Categories: Business

India China border row pinches India Inc hard, imports held up. Impact on imports amidst India-China tension, increased problems of industries

Photo: PTI

India China border row pinches India Inc hard, imports held up

Mumbai. The worst fears of Indian trade and industry seem to come true in the wake of the India-China border skirmishes and the subsequent escalation in both sides. Market sources expressed this apprehension on Saturday. Hundreds of thousands of cargo containers carrying all kinds of import material from China-Hong Kong have been parked at various sea ports and airways in the country since a week.

These include about 1000 containers, including critical spare parts, components and finished units of agricultural equipment worth over Rs 300 crore and other finished goods from almost all Indian industries. This is not good news for Indian industries and it is certainly an alarming time. The full testing of all containers coming from China is also an unofficial reason for this. Each unit has its own factors ranging from separate packing or box opening to material checking and strict scrutiny of all documents based on national security.

Tushar C. Padgilwar, an agricultural importer, told IANS, "Nearly 200 containers of urgently-needed agro-sprayers and components have been stuck at the Jawaharlal Nehru Port Trust (Mumbai). With the sowing season beginning across India, farmers "They need it a lot. If they don't get this equipment by the beginning of July, their crop will be ruined this season and we will lose all our investment."

President of Agri Sprayer TIM Association (India), Padgilwar said that apart from the cargo which has already arrived, the big consignments coming from China will also be affected. A leading Thane-based import-export consultant said that containers from China-Hong Kong, containing products worth several billion dollars, are currently stranded at ports across India. He said that nothing has been clarified by the authorities as to when the goods will reach.

He said, "Some types of cargo can wait, but most other types of goods, especially perishable food and pharmaceuticals, cannot be delayed. In addition, importers have paid in full for consignments, customs. Clearance of fees has been taken and even taken advance orders from its customers. Any kind of unnecessary delays will create huge complications for all stakeholders. "

The customs department and other officials concerned are keeping quiet on this issue. On the other hand, the voice of boycott of Chinese goods is also high amidst the ongoing tension with China. At such a time, if the access to essential goods is not established soon, then Indian industry and agriculture as well as the economy can pose a big problem.

This post was published on June 27, 2020 8:12 pm

Content Team

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