Boycott call fails to reduce import of Chinese products

Chinese share in imports rose to 19% as against 14% last year

Despite the drop in demand post-lockdown and the general resentment towards Chinese products after Ladakh incursion, China has increased its share in imports into India. Imports from the Communist country came down only by 29 per cent between April and August this year compared to 48 per cent decline in overall imports.

China’s share in India’s total imports has gone up to 19 per cent between April and July, up from 14 per cent in the year-ago period.

During the lockdown months of April and May and even during the initial months of unlock, the flow of imports in general

and especially those from China had faced several issues. During these months, the shipments of many items got stuck at the ports, consumption was curbed and logistics remained unresolved.

Further, the Chinese incursion into Ladakh evoked a strong resentment among Indian consumers and calls to ban

Chinese imports had become loud. Small and medium traders under Swadeshi Jagran Manch and the Confederation of All India Traders had given open calls to boycott Chinese products. This was followed by increased scrutiny of Chinese products at ports and consequent delays. The government also wanted to cut the Chinese imports wherever possible and promote indigenous production. Certain curbs in the form increased import duties were also brought in for select items.

However, the share of Chinese imports in India’s overall imports has gone up to 19 per cent in the period between April and July compared to 14 per cent in the yearago period.

Among the top 50 commodity groups, import of agro chemicals rose from

$321 million to $377 million, medical and scientific instruments grew from

$200 million to $205 million, other chemicals from

$212 million to $240 million, handicrafts from

$156 million to $168 million and petroleum products from $60 million to

$68 million.

—AFP Depositors and account holders of Punjab and Maharashtra Co-operative Bank hold placards during a protest near the Reserve Bank of India in New Delhi on Wednesday. On Tuesday, the central bank said net worth erosion, steep fall in deposits posed serious challenges in finding a workable plan for the revival of the fraud-hit bank.