INDIA
Here's why a boycott of Chinese goods won't work to our economic advantage.
Calls to boycott China-made goods have erupted across India after 20 soldiers died for their country in a violent face-off with Chinese troops in Ladakh's Galwan valley late Monday night. The protesters have also demanded revenge and severing of trade ties.
According to reports by news agencies ANI and PTI, people are burning the Chinese flag, China-made products, and effigies of President Xi Jinping.
However, a question which unfurls itself in this backdrop is if India can even afford to boycott Chinese products at this stage, given the market share that China-made goods already hold. Here we analyze the data from key sectors and try to determine if India can afford to substitute Chinese products with local alternatives and if so, how difficult will it prove to be in the long run:
Trade with China: At a glance
Export-Import Data Bank: India and China |
||
|
2018-19 |
Remark |
Export |
1.17 lakh crore |
India earns from China |
Export % share in India's total |
5.08 |
|
Import |
4.92 lakh crore |
China earns from India |
Import % share in India's total |
13.69 |
|
Total Trade |
6.09 lakh crore |
|
Trade Balance with China |
-3.74 lakh crore |
Negative; it means Import is higher than Export |
Source: Department of Commerce; GOI (Dated: 17/06/2020) |
Boycotting China is not as easy as data from key sectors show:
Smartphones:
Telecom Equipment:
Television:
Home Appliances:
Auto Components
Internet Apps
Solar Power
Steel
Pharma/API
A boycott of Chinese goods won't work to our advantage:
In 2014, economist Kilian Heilmann published a study titled "The Effectiveness of International Trade Boycotts", based on an analysis of the boycott of Danish goods by Muslim countries after a rupture over comic depictions in 2005-06 and China’s boycott of Japanese goods in response to the Senkaku/Diaoyu Island conflict in 2012.
DNA TV Show: Why Election Commission changed Assembly by-elections' dates
Days after imposing fine on Anil Ambani, Sebi now issues Rs 130 crore demand notices to...
Thailand announces indefinite visa-free entry for Indian travellers
Meet daughter of billionaire, who studied in UK, now works in Rs 32770 crore Indian company as...
MUDA case: Lokayukta police summon Karnataka CM Siddaramaiah for questioning on...
This city is 4000 years old, belongs to bronze age where 500 people lived, it is located in...
Kamala Harris has been the President of US before? Here's when and how
Meet son-in-law of billionaire whose net worth is Rs 38690 crore, he co-founded...
What is elimination inflammation diet that helped Vidya Balan lose weight?
Shah Rukh Khan feels breathless after quitting smoking: Know withdrawal symptoms, how to manage them
Zomato CEO Deepinder Goyal takes action on vendor for mislabelling mushrooms at Hyperpure warehouse
Mukesh Ambani's Reliance shares fell by 3%, loses Rs 50205 crore in one day due to...
IAF's MiG-29 crashes near Agra in Uttar Pradesh, pilot ejects safely, court of inquiry ordered
Driving Growth and Monetization at Zendesk: A Conversation with Darshit Thakkar
Can air pollution make you fat? Know how high AQI impact your health
Locanto Addresses Challenges and Innovations in Indian Education System
Nita Ambani stuns in floral co-ord set while Anant, Mukesh Ambani go casual in Dubai
Indian Railway to launch this 'SUPER APP', passengers can now..., know details here
Who is Rashmi Shukla, IPS officer whom EC removed as Maharashtra DGP?
This village in India allows men to have two wives, living under one roof due to…
AUS vs PAK, 1st ODI: Australia beat Pakistan by 2 wickets to take 1-0 lead in series
Singham Again’s sole aim is to entertain, it’s not Hindutva propaganda
Delhi pollution: 'Why firecracker ban was not implemented during Diwali,' SC asks police, govt
IPL 2025 mega auction likely to be held in Riyadh on these dates
Big update on Reliance Jio IPO as Mukesh Ambani eyes THIS date
EC reschedules UP, Punjab, Kerala bypolls from Nov 13 to...
Coldplay's Chris Martin falls through stage trap door while performing live in Australia
Meet man, who is rising star in Tata Group after Ratan Tata's death, now tasked with...
'Nice handwriting': Internet reacts to Elon Musk's physics homework from his college days
AIIMS INI CET 2025 admit card releasing today at aiimsexams.ac.in; when and how to download
Sustainability Meets Innovation via uPVC: Industry expert shares experience
Promoting innovation in engineering education
AP TET 2024 exam result declared at aptet.apcfss.in; steps to check
AI-Powered Development: Insights from industry leaders on transforming software engineering
Another BIG move by BSNL, now set to provide tough competition to Jio, Airtel, Vi by...
Uttarakhand Bus Accident: 36 dead after bus falls into gorge in Almora; rescue operations underway
Bigg Boss 18: Vivian D'Sena accuses Chahat Pandey of pooping on floor, latter loses her cool
One of India's best wicketkeepers set to retire after this season, won't play IPL too, he is...
Research shows awe-inspiring details about Black Holes, they can...
US Presidential Election 2024: Harris vs Trump goes down to the wire, say polls
AP TET 2024 exam result to be declared today on aptet.apcfss.in, when and how to check
Shampoo, tea, biscuits, oil to get costlier soon? FMCG firms caution price hike as...
Swiggy fined Rs 35000 for duping Hyderabad customer by doing THIS
Delhi pollution: Air quality in Delhi-NCR further deteriorates, AQI hits 'severe' level
Indian mission condemns attack on Hindu devotees at Canada temple by ‘anti-India’ elements
'Upar se leke neeche tak...': Bigg Boss 18's Kashish Kapoor, Eisha Singh get into ugly spat
Man grows 500 kg pumpkin, uses it as boat to sail 70 km, SEE PIC
Devotees at Banke Bihari Temple drink AC water believing it to be 'Charan Amrit'; WATCH viral video
Bank Holidays in November: Banks to remain closed for four days in THESE states, full list here
Bhool Bhulaiyaa 3: Kartik Aaryan's mother struggles to get tickets, hilarious video goes viral
Mumbai Police arrest Maharashtra woman for hoax death threat to UP CM Yogi Adityanath
Kriti Sanon avoids posing with rumoured boyfriend Kabir Bahia at Mumbai airport, video goes viral
This is world's most expensive house, twice price of Mukesh Ambani's Antilia, it is located in...
SC to hear today Delhi govt's plea against vesting LG with power to appoint...
Viral video: Girl’s sizzling dance to ‘Taareefan’ song earns praise from netizens, watch
Watch: Elderly couple's heartwarming dance at Mohit Chauhan's Patna concert goes viral
This is India’s most expensive wedding card, made from real gold and silver, it costs Rs…