Can India afford to boycott Chinese products? Here's what data from key sectors reveal!
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 Rema...
