Lost your password?
Don't have an account? Sign Up

Jaishankar advocates support for ‘Make in India’ as cheap imports from China ‘invade’ markets

Share This News Story:

NEW DELHI : External Affairs Minister S Jaishankar has stressed the need for increased utilisation of locally manufactured products by Indian consumers, especially as cheap and highly subsidised imported items are ‘invading’ Indian markets.

Expressing concern over the invasion of Indian markets by such imports, particularly from China, Jaishankar emphasised the need to “instill pride in the producer but also pride in the consumer”.

India has been actively employing various policy measures, including quality control orders (QCOs), to curb the influx of low-quality imports. The latest data revealed a 4 per cent increase in imports to a record $98.51 billion in financial year 2023, with China continuing to be India’s top import source.

To me, particularly because there is a danger of cheap goods or subsidised goods invading our markets, we have to instill pride in the producer but also pride in the consumer. We must consciously say that we should make in India and buy in India and buy what is made in India,” Jaishankar remarked at the ‘Aatmanirbhar Bharat Utsav celebration‘.

Commerce Minister Shri Piyush Goyal also clarified that India is not against imports but stressed the importance of balancing trade. Goyal stated, “the idea is not to close our doors or that imports are bad. We are not anti-import. Atmanirbhar Bharat also means we will also increase our exports and for that if we need to import, we will not stop those.”

Despite challenges in trade relations, particularly with China, the government’s focus on promoting indigenous production and reducing reliance on imports has shown early successes.

The ‘One District-One Product‘ initiative, aimed at selecting and promoting unique products from each district, is integral to preserving India’s cultural and economic identity.

The report also highlighted the success of India’s efforts to boost local production in the electronic manufacturing sector.

Imports of finished electronic products, including computers and laptops, showed a decline, attributed to the production-linked incentive (PLI) scheme.

Goyal noted, “these trends indicate the early successes of India’s PLI scheme, which aims to boost domestic manufacturing and reduce dependency on imported electronics.”

Share This News Story: