A report in the Indian Express on the 27th says that from pharmaceuticals and telecom to automobile manufacturing, almost every field and industry across India has started boycotting imports from China. However, 90 percent of the parts needed to make cell phones in India are imported from China.
Recently, there have been a lot of anti-China voices in India for well-known reasons. A report in the Indian Express on 27th February said that almost every sector and industry across India has started boycotting imports from China, ranging from pharmaceuticals and telecom to automobile manufacturing. Reports and discussions of an impending "trade war" between the world's two most populous superpowers have been rife for some time.
Many hotels in India have "explicitly" banned Chinese people from staying there, and a "strategy" for boycotting Chinese products has even been circulating on Indian social media. However, a number of media have coincided that India can not use the "trade war" to hurt China, but will be a blow to the country's economy.
In India's top five cell phone brands, four are Chinese companies, accounting for about 66 percent of the market. The report argues that India's dependence on imports of Chinese products is even higher in areas such as telecommunications and pharmaceuticals, to the extent that without Chinese firms, "the survival of these industries may be unsustainable." Officials from the Telecom Equipment Manufacturers Association of India said that 90 percent of the parts needed to make cell phones are imported from China.
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India struggles to retaliate against China in trade war
A report in Hong Kong's South China Morning Post argued that Chinese goods are used in almost every aspect of Indian daily life, from grocery and departmental stores to online shopping, and that even Paytm, the main digital payment platform, is owned by Chinese companies. Paytm also has a background of investment from Chinese companies.
Meanwhile, the International Monetary Fund (IMF) recently released an update to its World Economic Outlook report, predicting that the global economy will decline by 4.9 percent this year, facing its worst recession since the Great Depression of the 1930s. Among them, India's economy will shrink by 4.5 percent.
Analysts believe that the global economy will face a difficult "climb" in the future, India not only can not stand alone, but also in the "post-epidemic era," facing more difficult challenges than other countries. In this context, India hopes that through the "trade war" retaliation against China's idea is tantamount to a fantasy.
Jiangsu TV - India's boycott of Chinese goods may be unwise, as 90% of cell phone parts are imported from China