TIL Desk/Business/New Delhi/ The government is working on steps to reduce import dependence on China and boost domestic manufacturing, sources said on Thursday. They said policymakers are not considering any knee-jerk measure against China in the wake of ongoing border tensions between the two countries. China accounts for about 14 per cent of India’s imports and is a major supplier for sectors like cell phones, telecom, power, plastic toys and critical pharma ingredients.
One of the major steps on which the government is working is to restrict low quality Chinese imports, and for that technical regulations, which includes safety and quality standards, for about 370 products are being formulated with a view to cut imports of these non-essential items from countries like China, they added.
These items include chemicals, steel, consumer electronics, heavy machinery, telecom goods, paper, rubber articles, glass, industrial machinery, metal articles, furniture, pharma, fertiliser, food and textiles. Policymakers are also looking at non-tariff barriers being imposed by India’s trading partners such as China. The other steps include attracting global companies that are seeking to set up alternate global supply chains outside China.
