Imports from China

Apropos ‘India’s trade ties with China are as adverse as ever’ (May 2), the trajectory that the imports from China to India is taking is a matter of grave concern. India has not joined Regional Comprehensive Economic Partnership to avoid the problem of dumping from China, but sadly the imports from China are rising year after year forming about a whopping one-fourth of total non-oil imports.

India needs to explore other markets like Mexico, Brazil, Chile, Columbia, Switzerland and Italy to replace China for various important import items. In addition, encouraging local manufacturing by offering incentives such as rationalization of the GST rate structure, strengthening and expanding the PLI scheme, providing better infrastructural facilities, etc. He could reduce imports from China and, thus, reap rich dividends in the long run.

The MSME sector should be leveraged to become mass producers of many of the items now imported from China, which would not only encourage the sector, but also create large-scale employment.

Kosaraju Chandramouli


Promote domestic goods

It is distressing to learn that India depends heavily on China for its imports. China has always been at loggerheads with India as regards border issues and as such too much dependence on China is dangerous for the Indian economy. India with its talented manpower should have been a manufacturing hub of electrical and electronic goods, organic chemicals and plastic items which account for much of the imports from China. However, due to various bottlenecks and lack of innovation and research in these fields, we continue to rely on Chinese imports.

Indians, in general, seem to have a penchant for foreign goods rather than those manufactured domestically. There’s a need for a change in mindset and people should be encouraged to buy goods produced in India even if they are a bit costlier.

Veena Shenoy


GST collections

It refers to ‘GST mop-up at record ₹1.87-lakh crore’ (May 2). During the last financial year, gross GST collection crossed the ₹1.5-lakh crore mark four times and now in April it has surpassed all previous records and achieved highest ever collections.

This has been achieved because of the government’s initiatives on the technology front to improve GST compliance and growth in economic activity. While many parts of the globe are hit by recession, India has managed to not only stay afloat but also grow.

Bal Govind


Tackling front-running

This refers to ‘Breach of faith’ (May 2). Per the prevailing practices, banking and insurance regulators provide broad investment guidelines for public sector units to manage the portfolio of assets under their management. Parallelly, all listed entities need to comply with the provisions of listing agreements entered into with stock exchanges.

The front running by the equity dealer of the insurance behemoth on selected stocks, based on unpublished price sensitive information, resulted in collateral damage to the market. In monitoring and streamlining the investment process by PSUs, apart from the intervention of the regulators to put checks and balances, the boards of these entities must proactively frame stringent measures to prevent such unhealthy practices in the interest of all stakeholders and the economy.

Sitaram Popuri


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