The stand-off at Galvan valley will have a crucial impact on the trade between the two Asian economic power houses.The martyrdome of 20 Indian soldiers had hurt the patriotic feelings of Indians who’s call to shun the Chinese goods will have a negative impact on trade with the drogon land.Cancelling import orders will soon follow a reciprocal move which may result in scrapping of export orders.
The Chinese trade imports are mainly comprised of toys, household items, mobiles, electric and electronic goods and cosmetics among other things.The’Federation of All India Vyapar Mandal’ advised it’s retail traders to start clearing Chinese stocks and thereafter completely halting new orders to Chinese companies. Another traders organization have coined a campaign ‘Bhartiya Saaman hamara abhiman’,and listed 450 categories which contained 3000 Chinese commodities.
On the other hand several Indian industries will suffer a backlash due to the shortage of raw materials.The silk industry at Banaras and Kanchipuram are already stalled due to the Covid impact on Chinese market.
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