Ludhiana Bizmen worried over rising Chinese imports

Ludhiana, July 1

Amid the claims of the success of the Make in India campaign by the Government of India, the continuous increase in the import figures from China has left city businessmen worried.

Imports from China stood at Rs 7 lakh 5 thousand crore in 2021-22, Rs 7 lakh 91 thousand crore in 2022-23 and in the 2023-24 the figure zoomed to Rs 8 lakh 43 thousand crore.

Badish Jindal, president, All Industries Trade Forum (AITU), said while on one hand there has been a three per cent decrease in country’s total imports in the last financial year, the seven per cent rise in imports from China proves that the government was not concerned about the industries of the country.

“Import from China has a direct impact on industries in the country. Products which can be made within the country are being imported from China as they are cheaper. From under-billing to hawala scams, all kinds of scams are done by the importers to import these. Due to the import, country’s garment, electronic, bicycle, machine tool and plastic industries are going through a tough times,” said Jindal.

The situation is such that India, which was the largest exporter of tea and coffee in the world, was now importing tea and coffee worth Rs 705 crore from China, whereas in the previous year this figure was Rs 75 crore.

Most of these products can be easily manufactured by the MSME industries of the country, but due to cheap bank loans and technology, the products coming from China are cheaper than the products made in India.

Due to the price difference, importers purchase goods at cheaper rate and reap profit.

The government is also watching this whole game with closed eyes in the greed of import duty. While the imports from China are affecting the trade in the country, the business of bogus billing is also flourishing in the country. “If the government wants to save the eight crore MSME industries of the country, then it will have to curb the unnecessary imports from China in the country,” said Jindal.

Cost factor

Import from China has a direct impact on industries in the country. Products which can be made within the country are being imported from China as they are cheaper. — Badish Jindal, president, Aitu