In India, action taken by China on the Indian soldiers at Galwan Valley is at peak of discussion and it should be at it’s peak! After the shameful action of China, Indian government has taken action to boycott Chinese products, they have banned Chinese apps in India, and even government has taken strict action on government trading with China. Government of India has told not to import anything from China at national level trading system. They have requested, business and entrepreneur in privatization to not to do trading with China. People are ready to boycott Chinese items too. But, AT WHAT COST? People can boycott Chinese goods but, keeping the doors shut for China will benefit India? Here are some reasons why, boycotting Chinese products can affect Indian economy and trading market?
How feasible is to boycott Chinese products?
China is the second largest trading partner of India! But, India is the last trading partner of India! So, boycotting Chinese products can result in loss in Trading this year! Two years ago from now, USA has given lead to China in being at top in Indian trading list. India do trading 11.3% trading with USA, while with China the numbers are 10.6% of our trade. Others are UAE, Saudi Arabia and Hong Kong!
BUT, India is the last trading partner of China… So, is we end up our tradings with China, that does not affect Chinese economy as much as India economy can be affected by boycotting Chinese products. China do only 2.1% of their trade with India. CHINA WON’T FEEL THE PAIN OF BOYCOTTING INDIAN GOODS! India only exports it’s 5.1% goods to China, whereas China exports it’s 15.3% of goods to India, so due to a great imbalance in trading China won’t feel the pain but India can!
India Visiting China
According to a survey, 8 lakh Indians visits China every year for trading purpose, for tourism, for meeting their friends, relatives! But, only 2.5lakh Chinese visits India every year! Here, also we can see a great difference in numbers, that will also affect economy of the country.
Why can’t we boycott all Chinese products?
This is mainly because there is a big competition in firms. India import finished goods as well as raw materials from China. So, if it comes to boycott Chinese products, we can boycott finished goods! But, we can’t boycott raw materials for making steels, minerals, many chemicals. So, conclusion is that, INDIA CAN’T AFFORD TO BOYCOTTING CHINESE PRODUCTS.
Do we have alternative options?
We have many alternative options of different Chinese products, such as in the mobile World, China owns Xiomi, Redme, Realme, Vivo, Coolpad, Oppo, we have other option in space of that like Nokia, Samsung, iphones, etc. But, we don’t have alternatives of raw materials for making different goods or products raw material is must and for making some of the chemicals, steels, only China has that raw material to make it done! So, we can’t stop importing raw materials from China.