Recently, the Maharashtra Government has put on hold three major agreements signed with Chinese companies at the recently concluded magnetic Maharashtra 2.0 investor meet. The projects are worth around Rs 5,000 crore.
The Maharashtra Government has taken this decision with the consultation of the Central Government. Upping the ante following the growing sentiment of teaching a lesson to China for its misdeeds in the Galwan valley, the Government has made a fine beginning to boost domestic manufacturing as a strategy to hit the worm on going neighbour.
The latest thrust on promoting “Atmanirbhar Bharat” aims at achieving two big goals cutting down on import dependence on China and provide the local markets with an equal alternative.
It is our primary duty by seeking suggestions and comments from the domestic industry to find ways to curb low quality imports from china , the Government has sent an assuring message to India. Inc.
On its crucial role in India’s response to Chinese belligerence , imports from China are in a wide range , from wrist watches to steel quality of certain cheap goods were always in question but pretty traders did not bother about it for the profit margins.
Change in equality control rules for inbound shipments, especially from China, is the need of the hour. Each step in this direction will go a long way for India.
However, despite its rapid expansion and vibrancy, India’s start up ecosystem is far from mature. For a long time, Indian entrepreneurs did not focus on solving local problems or working with cutting edge technologies.
The reluctance can be partly attributed to the lack of bold venture funding ,given the lack of investors with deep pockets, resolve, and patience. Further, changes in customer behaviour, low price points, long gestation periods, and cashbum, especially due to the diversity of stake holders in a democratic and decentralised structure, did not allow for reforms to be rolled out at the same speed as China.
So it is my utter request to everyone that the way China is behaving “we boycott all chinese products”and accept our own nation products. So all industry should invest more and set the ball rolling.
It is a chance to change history for the Indian business fraternity and those leading India’s services sector. Indian economy has respond and is showing signs of getting back to the growth path. That will be the real lesson.
(The writer is a columnist based at Khordha, Ph: 6370675562)