Sunday, May 26, 2024
Advertisement
  1. You Are At:
  2. News
  3. Business
  4. Will govt hike customs duty on imported Chinese products? CAIT approaches govt

Will govt hike customs duty on imported Chinese products? CAIT approaches govt

The Confederation of All India Traders (CAIT) has amplified its call to boycott Chinese imports, listing out as many as 500 items that the traders' body wants to do away with. Importantly, CAIT has also approached the Central government, seeking hike in customs duty on imported Chinese products.

Edited by: Nidhi Taneja @nidhitanejaa New Delhi Updated on: June 21, 2020 17:54 IST
CAIT Praveen Khandelwal interview, customs duty hike, hike customs duty, chinese imports, customs du
Image Source : PTI

FILE

Voices to boycott Chinese products in India are growing stronger with each passing day. Given the volatile equation between India and China, people from all walks of life are marking protest in their own way. The Confederation of All India Traders (CAIT) has amplified its call to boycott Chinese imports, listing out as many as 500 items that the traders' body wants to do away with. Importantly, CAIT has also approached the Central government, seeking hike in customs duty on imported Chinese products. The wrath against China ensued ever since 20 Indian soldiers were martyred in a fierce clash with the Chinese troops at the Line of Actual Control (LAC) in Eastern Ladakh this week, with sentiments to boycott Chinese products soaring at an an all-time high.

 
"The CAIT has approached the government and demanded an increase in import and customs' duty on imports from China," CAIT General Secretary Praveen Khandelwal told indiatvnews.com. "We have also sought constitution of a Special Task Force, comprising of senior officials of the government with representatives of trade and industry, to deeply understand different verticals of Chinese products imported by India. The task force should identify other countries from where these products can be sourced as also how the manufacturing sector, both big and small, can be levered to produce these goods in India," he added.
 
About 14 percent of India's total imports are from China. India imported goods worth USD 62.4 billion between April 2019-February 2020. Exports to China, during the period, stood at USD 15.5 billion.
 
Furthermore, Khandelwal said that the government should go ahead with the recommendations of the task force and set up manufacturing facilities, predominantly in rural areas, so that those areas develop and workers don't have to migrate to other cities. "Special package should be linked with such proposals to encourage more and more people to set up manufacturing. Equally, the government should strengthen the supply chain with affordable logistics," he added. The traders' body general secretary also suggested the government to launch a massive awareness campaign across the country in association with the trade associations.
 
Among the main goods imported from China are clocks, watches, musical instruments, plastics, mattresses, furniture, sports goods, toys, electrical machinery, electronic equipment, chemicals, iron and steel items, fertiliser, mineral fuel and metals. 
 
The CAIT official said that the traders' body would also ask the government to create special industrial zones on a 50 acre land in each district of the country in order to set up industries, particularly for the manufacturing of those items which are currently imported from China. "All facilities should be provided to entrepreneurs under One Window Scheme and traders in association. With this, manufacturers will sell those indigenous goods and the country will stand benefited to a greater extent."
 
But is the boycotting chorus enough?
 
Khandelwal was of the view that the aim is not just to boycott Chinese goods but also drive out Chinese companies. "Not just boycott of Chinese goods, we have to force Chinese companies to withdraw their investments made in a number of startups as also contracts awarded to Chinese companies should also be cancelled," he told indiatvnews.com.
 
But what about the traders who will be hit hard?
 
Of course, with the call of the boycott of Chinese products, a certain section of traders will be hit hard, Khandelwal said. "However, we have called the traders to liquidate their Chinese stocks by July 15 and thereafter no deal should take place in Chinese products." Having said that, the CAIT General Secretary also requested the government to subsidise the traders who still have Chinese goods so that they don't face huge losses.

Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business

Advertisement
Advertisement
Advertisement
Advertisement