The economic ‘surgical strike’ by India has made China to face major setbacks. As per reports, Chinese products worth Rs.20,000 crores has been held in Indian ports. The products include electronics and electrical items, gifts, toys, footwear, home and kitchen appliances. They are held up in Indian ports waiting for clearance.
Praveen Khandelwal, secretary general, Confederation of All India Traders (Cait), has said that these products were ordered in the November and December last year. Chinese borders has been shut due to the coronavirus pandemic and the subsequent lockdown in India.
“Chunks of orders placed by our traders in December last year are still to arrive. The goods have not yet reached as China was initially closed due to coronavirus and subsequently from March 25, India went into a stringent lockdown for about two months. So, a great deal of Chinese goods — essentially electronics and electrical items, gifts, toys, footwear, home and kitchen appliances — still lying at the ports. Thus there could be a slight increase in the inflow of Chinese goods in the coming quarter,” said Praveen Khandelwal.
Official data reveal India’s imports from China during the April-August period of the current financial year stood at $21.58 billion. It has a drop of 27.63%, compared to the corresponding period in the previous year.
In 2017-18, India’s inward shipment from China accounted for 16.4% of its total import basket. In 2009-10, the figure was just 10.7%. However, since then it has eased a little. In 2018-19 imports from China accounted for 13.69%.