Boycott of Chinese Products Should Be Done in Calibrated Manner: Traders’ Body Writes to PM

Business

Amid a call for boycott of Chinese goods after the Ladakh face-off, a national trading body in a letter to Prime Minister Narendra Modi has said it should be done in a calibrated way and not until alternatives are in place.
The trading body also sought fiscal support from the government to encourage traders to import goods from other countries instead of China.
The Federation of All India Vyapar Mandal (FAIVM) said although they support stopping the import of Chinese goods for creating a roadmap to reduce dependence on Chinese products, any action should not endanger” the ongoing domestic business. China exports products worth $74 billion to India annually.
“Leaders in the trading community are of the opinion that our industries could be endangered due to non-availability of ready stock due to disrupted supply from China for industrial products such as machinery parts, bearings and other parts,” FAIVM general secretary VK Bansal said in a letter to Modi.
The traders have also expressed apprehension about the landed cost of imports from other countries as normally Chinese products are cheaper by 30 per cent to 70 per cent as compared to other countries, he said. The FAIVM claimed to be active in 18 states across the country.
A trader dealing with chemicals said currently the entire requirement of citric acid in the country is met through Chinese imports.
“We have written to the Prime Minister highlighting the reality even as we all support reduction of Chinese imports. But that should be in a calibrated way and not until alternatives are in place. Based on feedback from our members on July 4, we put forward some of the suggestions,” Bansal said.