The Indian government is working on important steps to boost local manufacturing in order to reduce import dependence on China. The India will rumored to arise tariffs about 370 products are being formulated with a view to cut imports of these non-essential items from countries like China source said.
These items include chemicals, steels, consumer electronics, heavy machinery, telecom goods, paper, rubber, articles, glass, industrial machinery, meta articles, furniture, pharma, fertilizer, food and textiles. THE commerce ministry has also identified 12 sectors- food processing, organic farming, iron, aluminum and copper, Argo chemical, electronics, industrial machinery.
The government in March approved a package comprising four schemes with a total outlay of Rs 13,760 crore to boost domestic’s production of bulk dugs. During April 2019- February 2020, India imported goods worth USD 62.4 billions, while exports to the neighboring countries stood at USD 15.5 billions in the same period.
The main goods imported from China include clocks and watches, musical instruments, toys, sports, goods, furniture, mattresses, plastics, electrical machinery, electronics equipment’s, chemicals, iron and steel items, fertilizer’s, mineral fuel and metals.