The boycott of Chinese goods has intensified after the bloody conflict with India's neighboring country over the border dispute with China. But according to experts, success can be achieved in this campaign only by producing cheap and durable goods. 90 percent of the active pharmaceutical ingredients (API) is imported from China for the manufacture of medicine, which is used domestically. India depends on China for 70 percent of mobile phones. 4 of the top 5 companies making smartphones in India are from China. 61,371 MW power plants installed in the country are running on equipment made in China.

Apart from this, President of Federation of Indian Export Organizations (FIEO), Sharad Kumar Saraf believes that we will have to make many improvements. Ease of Doing Business as well as Ease of Starting Business. He says that the government will have to think why our production costs are so much higher than China. Whereas Indian workers are cheaper than China. According to the exporters, the transaction cost in India (along with the interest rate on loan) is 23 per cent more than that of China.

In his statement, he said that till last year, the commercial property in Maharashtra which had a tax of Rs 9 lakh, has increased to Rs 45 lakh. Local tax is not levied in China. Manufacturing units in China do not have to pay different types of taxes. All types of clearance with the ground are available in a limited time. According to experts, India wants to overtake China in mobile phone manufacturing, but even after the announcement of Production Linked Incentive (PLI) by the Government of India, the manufacturing cost in China is quite low.

Also Read: 

Indian economy will decline, GDP figures came out

Indian stock market witnessed a huge gain, many stocks saw a boom

Damani earned billions, know interesting facts of life

Fitch revised rating for Indian economy