JSW Group has a net annual import of $400 million from China and it pledges to bring this down to zero in the next 24 months.
One of India’s largest conglomerate JSW group will stop importing USD 400 million worth of goods from China in the next two years. “The unprovoked attack by the Chinese on Indian soil, on our brave jawaans has been a huge wakeup call and a clarion call for action,” said Parth Jindal, MD, JSW Cement, said in a tweet today. He added that the JSW Group has a net annual import of $400 million from China and it pledges to bring this down to zero in the next 24 months. The step has been taken in line with the nationwide rage to boycott China after the brutal face-off at Galwan valley.
The JSW Group is a $ 14 billion conglomerate, which has a presence in core sectors of steel, energy, cement, and infrastructure. The group imports a huge amount of machinery and maintenance equipment. Apart from the JSW Group, the local traders’ body Confederation of All India Traders (CAIT) had also said that it will further mobilise traders in India to boycott Chinese goods and lend support to indigenous products.
Not only the private bodies, but the centre and the state governments have also stepped up to boycott Chinese goods. In a strong message to China, the Modi government banned 59 Chinese apps, citing them a threat to India’s integrity and security. Last month, Finance Minister Nirmala Sitharaman had urged the traders to make more goods in the domestic market and refrain from importing non-essential goods, such as Ganesha idols, from China.
At the state level, Chief minister Uddhav Thackeray-led Maharashtra government has paused three Chinese projects worth Rs 5,000 crore in June, while Yogi Adityanath’s Uttar Pradesh, and Manohar Lal Khattar’s Haryana have also adopted a tough stance on imports from China. Meanwhile, the Federation of Indian Exports Organisation (FIEO) said that an outright blanket ban is not in India’s best interest and is not feasible at the moment.