Prime Minister Narendra Modi visited China for the fourth time after coming into power but he talked about India's concern about Chinese products. The Indian government is in concern with China's goods. China's luggage is packed in the Indian market. What will happen to its industries? The government is investigating the impact of Chinese products on the Indian industries.
The parliamentary standing committee on commerce decided to investigate it under the leadership of Rajya Sabha member Naresh Gujral. He will show how the Chinese goods are having an adverse impact on the employment generation and earnings of Indian industries. Naresh Gujral is a chartered accountant and industrialist. He is the son of former Prime Minister Mr.Gujral. The committee also sought an opinion from the public on this subject.
Not only the government, the Indo-China Economic and Cultural Council has also been doing a research by finding out which industries in India have been hit due to Chinese products. On the other hand, it is a big truth that India and China are big business partners. Our trade deficit with China is growing steadily. This means that we can make export very less than imported from China.
According to the Directorate General of Commercial Intelligence and Statics, our trade deficit with China in 2016-17 is 51.11 billion US dollars (3.32 lakh crore) which was 48.46 billion US dollars (3.15 lakh crore) in 2014-15. In 2016-17, we exported 61.28 billion US dollars (3.98 lakh crore) products from China while exporting only 10.17 billion US dollars (66,105 million rupees).
These concerns are not just statistics, but it also affects the Indian industries.The negative impact of this gap falls on jobs. Because we ask for a place to make things we need. China does its duty to manufacture goods in India and sell it in India. He does not believe in investing It damages us. He has invested here only. He sells his goods in India and sells it in India.
"We have found that China has harmed our industries like textile, toy, wiper, mug, lighting, electronics, but it is also a major reason," said Inder-China Economic and Cultural Council member secretary Irfan. "Due to tax and hidden charges, the finished goods in the industries are expensive from the goods imported from China. "
According to Irfan, PM Modi is visiting China for the fourth time, "the government has increased the import duty on mobile components from 12 to 30 percent. From 2000 to 2016, China invested only 10 thousand crores in 16 years, based on these figures, it is ranked 17th in India's investment case, and now its investment is growing."
Irfan believes that import from China is not good for a long time. We should take technology from them. Their experience should be shared. Joint venture should be set up in India with China. This will give us an understanding of production at a lower cost. We will be creating opportunities for new jobs here. We can reduce the import of China's products in India only when demand for its domestic market is in the condition of fulfilling the needs of the people.
We are not in a position to meet the demand of our domestic market right now. We import mobile, TV, utensils, chargers, memory cards, auto accessories, building materials, sanitary items, kitchen items, tiles, Music equipment, machines, engines, pumps, chemicals, fertilizers, iron and steel, plastic, boat and medical accessories are mainly imported from China.