India Industries Will Upgrade Within Next 5 years
After the dastardly action of PLA in Galwan area of Ladhak, India has decided to not only blunt all moves of the PLA across the Indo Tibetan border but also to decouple economically from China, India has decided to take on China in all of the economic fields. Multinational Companies are already moving out their industrial production from China and looking to relocate elsewhere, especially in India. Therefore India is looking forward to welcome all such Companies and has started making provisions for the same in its policies. Together with its own efforts in the economic field, India will surely fulfill the goal in next 5 years.
Despite ongoing negotiations on the LAC in Ladhak amid high tensions, India is now determined to go all the way to first clearly demarcate the LAC in Ladhak and thereafter finalize and demarcate the actual Indo Tibetan Border. Thereafter Chinese will be asked to vacate all occupied territories in Ladhak. Meanwhile India has clearly indicated to China that there cannot be business as usual till the Chinese remain in occupation of Aksai Chin. The economic relationship will be decoupled in a phased manner and the same has started. India has started going by rules in clearance of cargo from China, and has also banned 59 Chinese apps as they were security risks.
International logistics giants FedEx and DHL have already suspended shipment services between China and India. And the latest industrial reports revealed sales of Chinese made smartphone have slumped 30-40 percent week-on-week in early July. Sale of other Chinese products have also slumped as Indians have decided to boycott every thing Made in China.
All this has now become part of the framework of the relentless bid to decouple from China. India’s recent move has raised trouble for Chinese global industrial chains amid the coronavirus pandemic. Other countries too have started following India’s lead in decoupling from Chinese goods.
Indian enterprises have already started to welcome New Delhi’s decision to loosen connections with China so as to expand their manufacturing and wipe out all competitions from Chinese rivals, On the other hand those Indian industries that have developed a high dependency on Chinese suppliers are already looking for other suppliers both internally and externally.
Shattering existing global industrial chains of the Chinese has already started with multinational companies moving from China to India. India has become the third largest economy in the World in PPP terms and the gap with China the second largest economy will start narrowing. As it is a large portion of Chinese data is manipulated and thus suspect As a nation India is transforming its industrialization and developing its infrastructure, upskilling its labor force and improving its land acquisition system for foreign investment, all at rapid pace.
Though Capital is essentially profit-oriented, seeking maximum returns at minimum costs, when it comes to Sovereignty, national security and national pride then money becomes secondary. This has to sink in the Chinese mind incase they wish to deal ever with India economically in future. We Indians will seek substitutes for the Chinese products or learn to live without them but will not buy them if they are made in China. India has already started to reboot its economy post lockdown.
Economic and trade cooperation between China and India had been increasing over the past decade due to strong economic complementarity, and China became India’s largest exporter, but then Chine mistook this for other things. They thought that they can get away even after further grabbing Indian territory. This has not happened in Galwan.