New Delhi: Amid the escalation from China, the Modi government is considering increasing the custom duty. Custom duty may be increased by the government on goods imported from China. However, no decision has been taken yet. There is an attempt to cut imports of non-essential goods. At present, the Ministry of Commerce is talking to the Finance Ministry about this.
About 14 percent of India's total imports come from China. Between April 2019-February 2020, India imported goods worth $ 62.4 billion, while exports to the neighboring country were $ 15.5 billion. The main goods imported from China include clocks, toys, sporting goods, furniture, mattresses, plastics, electrical appliances, chemicals, iron and steel items, mineral fuels.
Let us tell you that after the Chinese action in the Galvan Valley of Ladakh, India has now started teaching it a lesson. Earlier, Indian Railways terminated a contract with the Chinese company. In 2016, the Chinese company had a conduct of 471 crores, in which it had to install a signal system on the 417 km long rail track. The government has already ordered BSNL and MTNL to reduce the use of Chinese equipment.
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