Categories: Business

India to increase import duty in energy sector to curb china

Photo: FILE PHOTO

Power sector

new Delhi. After China's manipulation of the border, India is giving China one economic shock after another. Along with the ban on China's app, the government has canceled tenders benefiting Chinese companies in telecom and railways, while Chinese companies have been banned in road construction. In the next phase, the government is eyeing the power sector. Talking to a news channel, the Energy Minister has indicated that the government may further tighten the import rules for the power sector so that imports of equipment from Chinese companies can be controlled.

According to the Union Minister, the government may decide to hike the import duty, which will increase the price of their equipment and open up opportunities for domestic companies. In fact, for Chinese companies, keeping their prices low is their biggest feature, the government is deciding the strategy ahead. The Union Minister also made it clear that along with the increase in tariffs, the government will also change other rules so that Chinese companies can be imposed.

With the emphasis on self-reliant India, the government wants Indian companies to grow in all major sectors of the country. After the attack on the border troops, the government also wants to give a strong reply to China with the help of self-reliance. In fact, Chinese media is being repeatedly taunted that there is currently no alternative to Chinese products in India. At the same time, concerns are also being raised about the safety of the country from China's equipment and apps. In such a situation, it is clear from the steps taken by the government that it is working on a strategy to respond to China in both military and economic ways.

This post was published on July 2, 2020 5:19 pm

Content Team

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