Politics

आत्मनिर्भर बनने के अभियान की गति को थोड़ा और बढ़ा लें तो हम चीन को जल्द दे सकते हैं मात

According to a recent research, India was importing a total of 6,367 products from China. which was valued at US$6,800 million (15.3 percent of total imports). In many items, India used to import a large share of its total imports from China.

According to figures released by India’s Ministry of Commerce and Industry, India’s dependence on China in terms of goods imports has increased once again in the financial year 2021-22. Although India’s imports from China have been steadily declining over the last 3 years, trade between China and India stood at US$ 11,500 million in FY 2021-22, compared to US$ 8,600 million in FY 2021-22. 2020-21. There is much more. Increasing trade between the two countries is a good thing, but the concern is that imports from China to India are growing very fast and exports from India to China are not growing at that pace. India’s imports from China stood at US$ 9,400 million in FY 2021-22 as against US$ 6,530 million in FY 2020-21. The situation worsened in the first two months of the financial year 2022-23, with exports from India to China falling by 31 per cent and imports from China to India increasing by 12.75 per cent during this period. China’s share in India’s total merchandise imports has increased to 16.5 percent in FY 2021-22.

Since the economic development in India is taking place at a very fast pace after the corona epidemic, many things are being imported from China in very large quantities. But China is still battling against the Corona epidemic and some provinces of China are still under lockdown, so the economic activities in China have decreased, due to which the exports from India to China are decreasing.

According to a recent research, India was importing a total of 6,367 products from China. which was valued at US$6,800 million (15.3 percent of total imports). In many items, India used to import a large share of its total imports from China. Of the 893 products, 90 percent to 100 percent (US$ 759 million) were being imported from China. Similarly, 80 percent to 90 percent of 364 products (US$ 549 million), 70 percent to 80 percent of 386 products (US$ 909 million), 60 percent to 70 percent of 428 products (US$ 656 million), 50 percent to 60 percent of 476 products (US$ 972 million), 40 per cent to 50 per cent (US$914 million) of 461 products, 30 per cent to 40 per cent (US$8900 million) of 550 products and 20 per cent to 30 per cent (US$524 million) of 706 products were being imported from China. It is clear from these figures that India has become highly dependent on China for the import of these products.

Also Read: India’s threat is increasing with Prime Minister’s growing popularity on the global stage

In fact, the people of the country are more responsible for creating the above conditions, as the citizens of the country run after foreign products to the extent of their passion. And then, inferior products from China are available at very cheap prices. The business brothers of the country also played an important role in making these products available to the people of the country by importing large quantities from China. This stopped the production of these products in India. As a result, many employment opportunities in the country have been destroyed and many cottage, micro, small and medium industries have closed down. However, during the last few years, several cultural, religious and social organizations in India, including the Rashtriya Swayamsevak Sangh and the Swadeshi Jagran Manch, have campaigned to replace Made in China with Made in India products, with good results. was visible and due to this, imports from China were continuously declining from FY 2017-18. As a result, India’s trade deficit with China, which was US$ 6,300 million in FY 2017-18, has declined to US$ 5,356 million in FY 2018-19 and US$ 4,866 million in FY 2019. -20. In the financial year 2020-21, it was further reduced to US$ 4,400 million. But, it has increased again to US $7,290 million in FY 2021-22.

Now this fact is not hidden from anyone that China’s economic strength is getting stronger due to increasing imports from China by India and it is showing eye to India on India’s border. So India now needs to rethink how to increase the production of goods imported from China in India and how to reduce the import of these goods from China. There is a great need today to establish an export competitive industry in India. However, the production based incentive scheme implemented by the central government in recent times is going to play an important role in this regard. There is an urgent need to make serious efforts in this regard in the country as a whole. According to a report recently released by the State Bank of India, if imports from China can be reduced by 50 percent by implementing a production-based incentive scheme in India, India’s GDP can increase by US$ 2 billion.

Today it is also necessary that Indian citizens also bring about a qualitative change in their thinking and do not buy inferior quality goods from China just because they are cheap. This kind of thinking needs a radical change. Products made in India should be used even if they are a bit expensive. So that the economy of India can quickly move towards self-sufficiency and more employment opportunities will start to arise in India itself.

Also Read: Why Focus on Dollar? The Indian rupee is strengthening against the currencies of many countries

At the same time, if India is to be self-reliant now, we have to change our basic mindset. Today, if we believe in the notions of global marketization, the country desperately needs to rethink it. We should at least forcefully stop importing those goods from other countries including China, which we can easily manufacture in India. We also need to reflect on the extent to which we should maintain relations with China.

– Prahlad Sabnani

Retired Deputy General Manager

State Bank of India

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button