What is India’s trade policy with China? SC plea for Central govt to make it public

By: |
Published: July 1, 2020 3:04 PM

The Indian and the Chinese armies are engaged in a standoff in various areas in eastern Ladakh and the tension escalated after 20 Indian soldiers were killed in a violent clash in Galwan Valley on June 15.

india trade policy, china, central government, supreme court, ladakh violence, india china standoff, Line of Actual Control, galwan valleyIt said on June 29, the government banned 59 Chinese mobile app citing threat to India’s security.

A plea has been filed in the Supreme Court seeking a direction to the Centre to make public its trade policies with China amid the bitter standoff between the two armies at multiple locations in eastern Ladakh for the last seven weeks.

The Indian and the Chinese armies are engaged in a standoff in various areas in eastern Ladakh and the tension escalated after 20 Indian soldiers were killed in a violent clash in Galwan Valley on June 15. The Chinese side also suffered casualties but it is yet to give out the details.

Following the Galwan Valley incident, the government has given the armed forces “full freedom” to give a “befitting” response to any Chinese misadventure along the Line of Actual Control (LAC), the 3,500-km de-facto border.

The petition filed in the apex court has referred to media reports and alleged that a state and a private firm had signed memorandum of understanding (MoU) for business with China-based firms.

The plea filed by Jammu-based lawyer Supriya Pandita has said that after the June 15 incident at the LAC, the citizens and trade associations in India are calling for boycott of Chinese goods in the country.

It said on June 29, the government banned 59 Chinese mobile app citing threat to India’s security. “While the ban on these mobile apps may be a welcome step but on the other hand allowing few select business house or few select state government to enter in to MOU with Chinese business house or stakeholders from China sends a wrong message to the people of India,” said the plea, filed through advocates Om Prakash Parihar and Dushyant Tiwari.

The plea has also sought the apex court’s direction to the Centre and others to “terminate” the MoUs signed with Chinese firms. It claimed that MoUs signed by the states or companies with Chinese government or firms for trade and business is against the Prime Minister’s call for ‘Atmanirbhar Bhara’ (self-reliant India).

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Prime Minister Modi wants self-reliant farmers for Atmanirbhar Bharat; focuses on agri reforms
2PM Modi’s mantra for Atmanirbhar Bharat: Value-Addition to raw material, making finished goods
3Signs of revival: Deposits in Jan Dhan accounts exceed pre-Covid lockdown level