(Kajal Singh journalist):
New Delhi: After the violent incident in Galvan, the anger is clearly visible not only in China but also about its products in the country. Businessmen have also released a list of some Chinese products which they have excluded. At the same time, the common people are also talking about not using Chinese products.
There is also anger against China on social media and people are constantly making comments to boycott Chinese production. All of them aim for revenge from China. But despite this anger of the people, is it possible even to tell China on the economic front? This is a question that is very important to find the answer.
To find the answer to this question, the reporter spoke to Professor Acharya of Center for East Asian Studies and School of International Studies at Jawaharlal Nehru University.
In the opinion of Acharya, some steps have been taken in accordance with the public sentiment on behalf of the government to defeat China on the economic front, in view of the controversy surrounding Galvan with China. But, it is not so easy to rein in China on this front, because at present within India, small products to our own needs are coming from China.
In such a situation, before putting a check on China, India will have to make a complete strategy and then work on it. Acharya believes that to defeat China, it will be necessary that the army and the government work together on the economic front along the border.
According to him, currently, the trade between the two countries is more than 100 billion dollars. However, the products bought by India from China are much higher than what is sold to China from India. Because of this, India’s trade deficit with China is quite large. At the same time, if we talk about the investment coming from China to India, then it is about 5-6 billion dollars, which Xi Jinping wants to do for 20 billion dollars.
According to any decision taken on the economic front is not so easy. Putting a single stop on many things or areas at once will stall many things. Therefore, it will not happen immediately on a large scale. A living example of this is the trade war between China and America, which has not been cleared even after two years. Therefore, before China can be removed economically, the government has to bring with it another country or become so strong on the domestic front that they can make all those things themselves and develop their technology.
Acharya says that China’s investment in the past few years has also increased in India because India did not have the means and technology with which to produce them. Therefore, if China has to knock this front, then it will also have to strengthen itself. It will be very interesting to see what and how the government decides about this. This is also because China is the major source of FDI in India. According to him, where the entire world economy is in decline due to Covid-19, investment is needed to strengthen India. Acharya says that after the incident of Galvan, some decisions can be taken in the field of technology and security where China is present. He expressed the hope that in the future the government will also take a big decision regarding China.