Boycott Chinese Products: After the new economic policy started in the year 1991, the idea of globalization was so much on the mind of the policymakers that they used to think of the idea of protection and promotion of manufacturing-related industries, self-reliance, etc. in the country.
The constant reduction in tariffs was being indicated to the world that he could sell all his goods in India at minimum import duty. It was also being said that due to lower parts and components coming from abroad at lower tariffs, consumers will get cheaper goods and their standard of living will be better.
But the country saw our foreign trade deficit grow steadily since 1991 and more sharply since 2001 (when China became a member of the WTO) which reached $ 190 billion by 2012-13.
After 2013, our trade deficit narrowed after the fall in international oil prices. However, it still remained at a high level (and reached $ 184 billion in 2018-19). It is understandable that since we started importing so much that our dependence on foreign countries and China in particular increased. Our industries either shut down or were operating at levels far below their potential. This directly impacted our employment generation.
On the one hand, the unemployment rate started increasing due to a lack of employment generation prospects in traditional agriculture and on the other hand due to limited and sometimes decreasing employment opportunities in the service sector. The dependence on China for many medical devices, including raw materials, masks, PPE kits, testing kits, of various medicines, brought not only India, but the entire world.
At the same time it came to mind that the economists who were saying that we should open agricultural markets completely to imports and not consider self-sufficiency in the food sector were actually misleading the country.
Prime Minister Narendra Modi, in his address, is constantly talking about the purchase of local products and urges and encouragement due to the crisis of this epidemic after calling for the use of local products and Khadi for a long time.
The way the epidemic spread from the city of Wuhan in China and then its horrors were hidden and China did a poor job of transplanting the disease into the world, this has caused anger towards China all over the world.
There is an atmosphere of a boycott of Chinese goods all over the world. Most people in India are also vowing to boycott Chinese goods. Sonam Wangchuk, a well-known citizen of Ladakh, has given the message of a boycott of Chinese goods a movement against China. People are boycotting Chinese goods, warning about the dangers coming from China, suggesting Indian options, and urging the government to stop Chinese imports. Demand to keep Chinese companies out of all tenders has started picking up. As if the idea of boycott and self-reliance has become synonymous with China.
There are some people who are trying to say that the boycott of Chinese goods cannot be successful. Although under the current circumstances they are unable to justify the boycott of China, they are trying to prove that India does not have the capacity to substitute Chinese goods and make the boycott successful.
They give some examples that today we are highly dependent on China and other countries for our different types of needs. It says that we depend on China for raw materials, electronic components, machinery, and necessary equipment for the pharmaceutical industry. In such a situation, the boycott of China will increase the cost of these industries and we will be out of the competition. They are trying to prove that it is very difficult for India to become completely independent.
It is being said that our capacity in the raw materials of medicines has been drastically reduced, so we will have to import them from China. It is true that due to dumping of Chinese goods and ignoring the government of India for some time, India's industries have been destroyed, but today we have also proved our potential in the time of the epidemic.
PPE kits, masks, testing kits, ventilators are examples of this. It should not be forgotten that before China, we sent Mangalyaan to Mars. The space program PSLV, missile program, software etc. reflect India's capabilities.
The example of APIs (active pharmaceutical ingredients) which is given frequently, we should not forget that 90 percent of all APIs that come from China were made in the country.
Our API industry was affected by non-equal competition due to China's dumping. Recently, a Rs 3,000 crore package to revive the industry has already been announced by the government. On the other hand, a package of 42 thousand crore rupees is also being brought for electronics.
Chinese imports have also fallen due to the imposition of anti-dumping duty and an increase in tariffs. If we see a trade deficit with China, then it has been declining since the 2017-18.
It was $ 63 billion in 2017-18, which decreased to $ 53.6 billion in 2018-19 and now to $ 48.6 billion in 2019-20. These figures reject the logic of the impossibility of self-determination. This is the result of a partial boycott by the people and some measures by the government in the past.
If the appeal for the boycott of Chinese goods spreads, then imports from China could decrease further in the coming years and boost our self-reliance efforts. So in conclusion we can see the dream of "Boycott Chinese Products" coming true one day.
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