INDIA'S BOYCOTT OF CHINESE GOODS

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‘Make in India’, an initiative launched by our Honourable Prime Minister Shri Narendra Modi in 2016 bought an enthusiasm on every face of Indians that now we will be producing on our own. Now with the current situation of the pandemic, he again gave a clarion call to the nation for an ‘Atmanirbhar Bharat’ last month. Amid the ongoing border conflicts between India and China, boycotting Chinese products have sharply hit the market. This directly attacked the market of Chinese products which comprise a major portion of the country's imports. Investment by Chinese companies in India, in 2014 stood at Rs 12 thousand crores which have now grown five times to Rs 60,000 crore. Around 60% of the automobile industry is covered by China, 90%of the toy industry, television Market covers around 42-45 percent in Smart TVs and 7-9 percent in Non-smart TVs, 60% is covered by Pharma/API, it has similar effects on many other industries in India as China is one of the most active investors in India’s Start-up companies.
Beginning with such a hard number was making first, India dependent on China and second our countryperson was not able to establish their start-up and get involved in the vicious circle of the market. The country's exports to China stood at $13.3 billion and imports from the country at $76.38 billion in 2017-18 because of this many of the industries like the chemical industry is suffering worth $163 billion. OLA, Hike, Big Basket, Byju, Delhivery, Dream 11, Hike, Oyo, Paytm, Snapdeal, and Zomato are some of the big companies in which China has invested around Rs 4000 crore. According to Satish Wagh, ex-chairman, Chemexil in the short-run it is too difficult to find a substitute considering the level of dependency on China for procurement, sourcing raw material, etc. Since India is an emerging economy hence the dependency of it on other developed countries will make the country's economy weak and slant. As mentioned above the proportion of Chinese products in the Indian market is increasing rapidly leaving the country prone to demolition. 

If India chooses to boycott Chinese products from the market then it will be a huge loss for the economy to cope with, but in the long run, if managed well they can cover the loss otherwise it can bring down one of the largest democratic countries of the world. This will give Indian businesses an opportunity to stay and prosper in the market 

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