Restricted access to market in plan to counter Beijing
NEW DELHI: With external affairs minister S Jaishankar speaking with his Chinese counterpart Wang Yi on Wednesday for the first time since the troop build-up along the Line of Actual Control (LAC) began several weeks ago, people familiar with developments said the focus is expected to remain on bilateral efforts to defuse the crisis.
India, however, is mulling economic measures, including limiting China’s access to its vast market, even as its armed forces went into a state of high alert to deal with any threat to national security following the escalation of the border conflict after 20 Indian soldiers were killed in a brutal clash with Chinese soldiers on June 15.
The army has strengthened its posture across the length of the LAC where reinforcements have been sent, the Indian Air Force is keeping its contingency plans ready and the navy is also on alert in the Indian Ocean region where scores of warships are ready for any task, three military officers said on Wednesday on the condition of anonymity.
On the economic front, at least 100 Chinese products are staring at anti-dumping action and future investments from China, including participation of its firms in big and important projects such as the 5G market, could be barred, four government officials said, asking not to be identified.
India will, however, not resort to any knee-jerk reaction. It will take well considered action at an appropriate time, necessary to protect integrity and sovereignty of the country and its national interest, the officials added.
“Hopefully, good sense will prevail (upon China). We have several options and we will not hesitate to exercise them depending on the situation,” one of the government officials said.
But New Delhi is hoping that the two countries will be able to work out a solution at the diplomatic level that doesn’t compromise India’s interests or position, the people cited in the first instance added. They described the call between the two foreign ministers as an effort to clear the air after the face-off .