I'm sure you must have heard the phrase, "pulling the wool over someone's eyes".Back to being friends?
Cheers,
Amid Border Tension, China Foreign Minister May Visit India This Month
Minister Wang Yi, who is also the State Councilor, had earlier this month said that China and India should be "partners rather than rivals".www.ndtv.com
Sid
Yes that is the approach we should be taking. We can't take on Chinese cheap imports at once. It is going to take time for Indian companies to scale up. With the government apush for make in India, it will happen ultimately. From our part, we can look to the product orgin and consider alternative made in India stuffs.
Someone in this forum or on another forum had commented sometime back that how easy it was to open an export industry in China and operate very easily. It took him just 6 months to get everything operational and the Chinese helped him to establish it at every level. Maybe everything is changed now due to the border tensions but my point is it is still difficult to establish a SSI in India without red tapeisum. The make in India has never happened and it is still in paper only in many states. Trying to find some niche electronics or various other products is almost impossible now after Ali express ban. Hope government cuts the red tape and pushes for make in India a reality but we have a very long way to go.
Rightly said. This is the mentality of government on boosting local production for more revenue but never see what actual consumer needs and how they get affected. Same trend to the imported tax. For example a good quality bicycle was taxed @ 12% import fee but raised to 36% at once during 2012-13 for encouraging local made. Bicycle are not even a luxury item. Still now I dont see the quality of indian bicycles improved (but only the price of local cycles have kept increasing). Many Indian products are not really making value for the end product they offer. I see many EU countries are cheaper in expenses compared to a metro in India. And consumers are facing it. PLI schemes are way better, it encourages the local production in positive direction without hurting the consumer options. Western countries still rule by not producing locally but having companies with good R&D. India dont have to be production hub for a stronger economy, but focus on good inhouse products will help to lead.
On this very thread in fact.
Its easier to destruct than come up with constructive solutions.
That is only half the story though, imports have grown faster than exports.Explained in charts: How India achieved $400 billion exports target
This is the first time ever that exports have crossed the $400 billion-mark. The previous best was $331.02 billion that was achieved in 2018-19.India added around $25.19 billion worth exports in the month of March so far and may finish at about $410 billion by the end of this fiscal.economictimes.indiatimes.com
indianexpress.com
What is the relevance of this link with this topic? Is it to point out that the boycott of Chinese goods was so successful that we started producing in India and not only that, we overproduced and are now exporting that excess?Explained in charts: How India achieved $400 billion exports target
This is the first time ever that exports have crossed the $400 billion-mark. The previous best was $331.02 billion that was achieved in 2018-19.India added around $25.19 billion worth exports in the month of March so far and may finish at about $410 billion by the end of this fiscal.
There are no official enemies and friends except in the minds and social media posts of moronic IT Cell employees of political parties who want to keep the cauldron bubbling so that gullible simpletons are taken in. Doesn't seem to be too difficult a task at all if you look all around us.
True indeed, I take this with a pinch of salt. Our best bet is to reduce this trade deficit as much as possible, either by increasing exports or reducing unnecessary imports like those cheap plastic items/electronics/toys. Our 2nd most significant import is gold/gems; the craze for Gold is cutting a big hole in our $ reserve.That is only half the story though, imports have grown faster than exports.
Buoyant exports but unfavourable trade balance: Why there is a dichotomy
India’s exports have risen nearly 50 per cent year on year in the first nine months of this fiscal, putting the country on track to hit a target of $400 billion in merchandise exports.
Cheers,
Sid
The idea was to highlight that we can produce quality goods (export quality). If the exports are booming, that means people trust our products. Abroad, Indian products are costly, unlike their Chinese counterpart. That said, if the government (state/central) can iron out the problematic issues like land procurement, labor law, electricity tariff (things have at least started moving in the right direction in a few states). I don't see why we can't become a manufacturing powerhouse and reduce our dependency on Chinese imports.
