By: Simarjeet Singh
In the light of recent tension between India and Pakistan, China has shown its support openly to Pakistan igniting the ire of the common Indians. A large section has taken to social media and also spreading the call for boycott by word of mouth.
The demand for the
Chinese products is shrinking and the imports from China would see a big crash
in the coming months according to a report, which
revealed a significant shift in the consumption pattern of Indian consumers
towards domestic products.
Major part of the decline in India's imports from China has been witnessed in products such as ships and boats, tobacco products, aquatic products, pearls and precious stones, musical instruments and parts thereof, mineral fuels and oils, lead and articles thereof, cocoa products, and wool and products
According to a analysis by PHD Research Bureau, India's imports from China increased more than 500 percent from USD 10 billion to USD 61 billion during the last ten years from 2005 to 2015. China's share in India's imports increased from 7 percent in 2005 to around 16 percent in 2015.
Major part of the decline in India's imports from China has been witnessed in products such as ships and boats, tobacco products, aquatic products, pearls and precious stones, musical instruments and parts thereof, mineral fuels and oils, lead and articles thereof, cocoa products, and wool and products
According to a analysis by PHD Research Bureau, India's imports from China increased more than 500 percent from USD 10 billion to USD 61 billion during the last ten years from 2005 to 2015. China's share in India's imports increased from 7 percent in 2005 to around 16 percent in 2015.
but
in first six months of the current financial year 2016-17, The trend has been
reversed and growth of imports from China decelerated by 8 percent
In
response to the boycott from India, China said any such move will negatively
impact the India-bound investments from its enterprises and also the Indo China
Bilateral relations.
China also claimed that any such boycott would not have much signifance on its exports, but "without proper substitutes, the biggest losers of the boycott of Chinese goods will be Indian traders and consumers".
China also claimed that any such boycott would not have much signifance on its exports, but "without proper substitutes, the biggest losers of the boycott of Chinese goods will be Indian traders and consumers".
In
its statement, Chinese embassy referred to reports that local sellers in Sadar
Bazaar, the largest wholesale market of household items in India, have
complained about their Chinese goods sale dropping by at least 20 per cent.
The Chinese embassy also said that "The boycott effect will not limit to Diwali related products, but extended to other Chinese products that are not related to the festival. In the long-run, boycott will not only hurt Chinese goods sale, but also cause negative effects to consumers in India".
The Chinese embassy also said that "The boycott effect will not limit to Diwali related products, but extended to other Chinese products that are not related to the festival. In the long-run, boycott will not only hurt Chinese goods sale, but also cause negative effects to consumers in India".
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