Badish Jindal.
Ludhiana, May 27, 2013: Federation of Associations of Small Industries of India (FASII) national president Badish Jindal has said the Chinese dragon is slowly and steadily entering into the India and is prepared to destroy the economy of India badly.
In a statement here on Monday late evening, he added, “ As the figures announced by the Government of India this week, it is really shocking that on one side China is decreasing imports from India whereas on the other side it's exports to India is steadily increasing.”
He said during the year 2011-12 the imports from China to India was Rs. 275,998 crores which increases to Rs. 295,520 crores by 2012-13with an increase of 7.07%.
“Whereas on the other side the exports from India to China have decreased from Rs. 87,669 crores in 2011-12 to Rs.73,483 crores by 2012-13 with an decrease of more than 16%”, he said, adding whereas in the same period the exports to USA from India has been increased from Rs.166,474 crores to Rs.196,538 crores with an increase of 18% and to UAE it has increased from Rs.172268 crores to Rs.197716 crores with an increase of 14.77%.
“Whereas on one side when India's export to main countries is increasing and on other hand it is decreasing in China by a huge margin of 16% which is indeed shocking”, he remarked.
Jindal said the India is exporting just 4.5% of its total exports to China whereas it is importing more than 11% of its total import from China the trade imbalance between India is increasing year on year basis.
“So some where China is working under a strong conspiracy to hit India economically”, he feared.
He said today the many sectors such as bicycles and electronics are badly hit by China.
He revealed that on May 28, FASII's delegation is meeting with the Union Secretary and Minister of MSME to look into the matter because the products they are importing from China, could be easily produced by the MSME'S of India. “And our main export to China is mainly the raw material which we require here badly”, he further revealed.
He said FASII is also suggesting the Union Minister some preventive measures such as imposing high import duties on the reserve MSMEs products in India.
Besides, FASII is also suggesting to impose ban on subsidised tours to China by Ministry of MSME, he added.