New Delhi. China has lifted a break on the ban on Chinese products imposed in the country between China-India tensions. Surprisingly, the Modi government at the center does not pay any attention to it.
Direct imports from China have been banned, but the record increase in India imports from pro-China countries such as Hong Kong is now a matter of concern.
China can send its products to India through countries. It is considered as a Chinese strategic attempt to maintain the edge of Chinese goods in the Indian market.
Confederation of All India Traders (CAIT) has sent a letter to Union Commerce Minister Piyush Goyal expressing serious concern over the unprecedented increase in imports from Hong Kong to India.
CAIT has urged Hong Kong to conduct a close check on the India rectangle for an unexpected edge.
CAIT has also urged Goyal to closely monitor the countries to which China can send its goods to India by making a transshipment hub.
CAIT has demanded that India’s Free Trade Agreements, treaties and other trade-related agreements should also be looked at anew and should be immediately closed if there are any holes in them.
Meanwhile, CAIT has also praised the move by the central government to initiate an exercise to impose anti-dumping duty on measuring tapes which are coming in abundance from China through other countries.
In its letter to Piyush Goyal, CAIT has said that India has succeeded in narrowing its trade gap with China but in the last three years the trade balance with Hong Kong has turned from a balance of trade to a deficit.
India’s imports from Hong Kong were $ 17 billion in the last financial year with electronics, telecommunications equipment and computer hardware totaling about $ 8 billion as compared to $ 10.67 billion in 2017-18.
Rapidly increasing imports with Hong Kong reinforce the possibility that China is preparing to change its export routes while India wants to reduce its import dependence on China.
CAIT national president BC Bhartia and national general secretary Praveen Khandelwal said that a close analysis of the import data from Hong Kong clearly shows that almost all the major commodities which have seen a fall in imports from China were with Hong Kong. Business has increased.
He said that all these items are mainly electrical machinery and equipment, fruits, minerals and iron and other goods. It seems that the low export from China to India and the increase in trade from Hong Kong to India during the same period is a well thought out conspiracy of China.
It is also important to note in this analysis that electric products, nuclear reactors, mineral fuels and other products such as iron and steel are mainly produced in China and not in Hong Kong.
Therefore, it seems that the import route for goods entering India is changing, which needs immediate attention.
Bhartia and Khandelwal have urged Goyal that anti-dumping duties need to be imposed, if needed, by keeping a close watch on goods imported from Hong Kong to stop this Chinese conspiracy.
Given the current situation, it is necessary to demolish China’s plans by taking immediate measures to monitor imports from Hong Kong and other South Asian countries.