Indian Electric & Electronic Manufacturers’ Association cancels imports from China
In a move to hit China on its face and support the Atmanirbhar Bharat Abhiyan, the Indian electrical equipment and electronics industry has started mass canceling of imports from China.
The industry is now looking for alternative supplies from other countries to fulfill the demand for raw materials. Interestingly, the industry has also decided to bear the higher cost in this shift, if at all.
As per the media reports, the Indian Electrical and Electronics Manufacturers’ Association President RK Chugh said that the industry would consider procuring raw materials from “reliable and friendlier” nations like Japan, Taiwan, Korea, and Germany.
Many electronic equipments manufactures in India have already started dealing with Taiwan and Korea to import raw materials.
In the month of May 2020, Prime Minister Narendra Modi called the nation to promote local brands. Under the Vocal-for-Local initiative, the government aimed at encouraging local manufacturing to boost the economy and employment.
The government’s bigger objective is to minimize the trade deficit with China. Later, when 20 brave Indian soldiers lost their lives while protecting Indian territories at LAC in Galwan Valley in Ladakh, the call to boycott China further strengthened.