New Delhi/Beijing: – The import of Chinese good into India has dropped by 24.7%. A huge effect of the boycott of Chinese products is becoming evident and the decline in the bilateral trade is a telling blow for China.
There was an attempt to scoff at the Indian boycott of Chinese products, in an article in the Chinese government mouthpiece, Global Times. As per Global Times, as usual, these appeals have not affected. The article claims that the Indian imports from China, in July, had shown a marginal increase, rising to $5.6 billion. As per the claim made by Global Times, this figure was $4.79 billion, in June. But there is a vast difference between the information published by Global Times and the actual Indian Data. It is being revealed, quoting officials from the commerce ministry, that the figures of Indian imports from China are much lower. In short, China is once again spreading delusionary information.
Indian imports from China, for June, were worth $3.32 billion. As compared to June last year, there is a drop of 43.73%. Indian imports, from China, in July, last year, were worth $6.16 billion. The Indian figures for July, this year, have not been released.
If the Chinese customs data from January is considered, it is clear that the bilateral trade has been declining. The exports from China to India, for the period January to July, are only $32.28, showing a 24.7% decline over the corresponding period last year. India has increased the dumping duty to reduce Chinese product imports. Tendering norms have been amended and has also banned the import of nearly 200 items. Therefore, it is claimed that imports from China will decline further in the times to come.