Gulte News
The #BoycottChina and #BoycottChineseProducts movement has gained steam across India, especially after the violent clashes in the Galwan Valley that claimed the lives of 20 brave Indian Army soldiers last week. Indians are on a mission to teach a lesson to China economically, as an all out on military war will adversely impact the already limping Indian economy.
And to give credit where it’s due, China has already begun exploiting the anti-China sentiment among Indians. Chinese apparel companies have started manufacturing caps and T-shirts with the slogan “#BoycottChina” printed on them. These products are in turn being sold to overenthusiastic Indians on the e-commerce apps in India. Pictures of the #BoycottChina caps and T-shirts with the “Made in China” tags are going viral on social media.
On the other hand, a section of economic experts are of the opinion that boycotting Chinese products will only cause more damage to the Indian economy than bringing down the Chinese economy. Experts fear that if China reciprocates with stopping of Indian imports and exports or imposing heavy sanctions, it will prove costly to the Indian economy at least until India finds a reliable trade partner to replace China.
India’s share in Chinese exports is a meager 3 percent. India imports goods worth $70 billion from China. Close to 60 percent electric and electronic goods and 67 percent drug imports from China may result in costing the pockets of Indians. Also, with $16.7 billion exports in the 2018-19 financial year, China was the third largest market destination for Indian exports.
