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Gov wants Self sustenance in Fertilizers, PLI scheme for Medical Instrument and Pharma Raw Material already being introduced. About Autoparts gov can do more and some companies have taken pledge to cut chinese imports.Absolutely not true. They can be replaced, yes, but setting up contracts with suppliers, and/or setting up domestic production facility takes time.
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Few things that will be very hard to replace will be -
I can go on and on...
- Electronics/Chipsets - No ecosystem in India, or in near future. Few countries can supply high-quality products in large numbers, including Vietnam and South Korea.
- Nuclear machinery - Self-explanatory. Few countries make them and are liberal enough to sell them to us.
- Iron & Steel items/alloys - High-grade alloys like duralumin (aerospace grade aluminium-alloy), no ecosystem in India.
And yes, now that we have realised China is a friend no more, we will move away from China. Within 1-2 year we will be able to de-couple our economy from China.
Doklam was resolved with China accepting our demands, and thereafter Xi flying to India to mend ties. Yep, we got fooled. But then again, anyone would be.
It actually happened within a week. And that is actually a very short time to mobilise a large number of troops.
True, but also -
- Pvt. industry will not spawn overnight. The industry is an ecosystem which feeds on one another, it takes time. At least a decade to grow and flourish.
- Quality of products initially will not be up to the standard.
- Some products which require high-technical challenges and crucial-patented technologies might never be developed. For example, microprocessors, high-grade metal alloys etc.
Yeah, and people will swallow such draconian rule? See the farmer's protest? CAA protest ?
We need to diversify our import and export to cushion against trade war, recession and dependency.
We Depend upon China way more than they depend upon us.
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We can propel ourselves and our neighbors through trade.
EU recently sanctioned Timber Import from Myanmmar for various reasons, we can step in and import cheap Timber from Myanmmar, no need to suck upto IKEA we can meet our own demands with little bit of imports.
The WB, Odisha Region can become a hub of High Grade furniture's.
Teak purchases from Myanmar discouraged in EU countries
Similarly there are whole lot of AESAN country that are looking to balance out China.
There Is Africa for cheap Raw Material There is Chile for Lithium, there is Australia for Coal and Quartz.
As long as Finished product has way higher Market value from its Production cost we will stand to gain from trade.