The demand for a boycott of Chinese products arose during the coronavirus infection phase. That demand was further intensified after the death of 20 soldiers in an Indo-Chinese clash in the Galwan Valley. Pictures of burning Chinese products have also been caught in many places. There is a similar wind in the government sector. But is it really possible to boycott China completely? In almost all cases, China is in the limelight, with Chinese investments in many Indian companies. As a result, the question is, will India have the courage to ignore that huge foreign investment and boycott Chinese products everywhere?
BSNL has been banned from using Chinese products. On the way to cancel the contract with the Chinese company which was awarded Rs 500 crore for a railway project. But there is a big difference between making a small decision and boycotting the whole of China. Experts say all of these steps are just the tip of the iceberg. Overall, it is difficult to walk without sugar. Because from information technology to infrastructure, from entertainment to everyday necessities — China and its products or services abound.
The Indian company Gateway House has conducted a survey on how much investment a company has in India and how they have captured the Indian market. The survey is based on data from the Ministry of Corporate Affairs, the Government of India, various stock markets, the Government of India's foreign investment portals and news reports. According to the survey, 16 out of 30 Unicorn companies in India have Chinese investment. Privately owned companies worth more than 100 crores are classified as unicorns. According to the survey, the investment of various Chinese companies in these 16 unicorn companies is about 4 billion US dollars. The survey also said how much investment a company has.
But beyond that, Chinese companies have a lot of investment in companies worth less than Rs 100 crore. Chinese dominance in products, services and information technology is also increasing. According to the Gateway House survey, there are Chinese investments in at least 75 companies, including e-commerce, fintech, media and social media, infrastructure and transport. Especially in the field of information technology and services has found huge potential and continues to invest.
On top of that, in the digital world, the market for Chinese companies has also jumped over the past few years. Apps like UC Browser, Share It, TikTok, Vigo Video are quite popular in India. According to the survey, TikTok has surpassed YouTube in popularity in the last five years. In India alone, Tiktok has about 200 million subscribers. The market for mobile handsets is also booming in China. Chinese phones are practically monopolized in mobile handsets as well. Samsung, Apple is not near the edge. According to a survey by Gateway Highs, only Chinese phones Oppo and Xiaomi occupy 72% of the market in India.
Therefore, experts say, it is not as easy to talk about boycotting Chinese products out of emotion as it is economically unrealistic. On the one hand, the production and sale of goods at low prices and the circulation of Chinese goods and services is everywhere. Again, there are many products that are not made in India or even if they are made, their price is much higher than Chinese products. As a result, in order to use domestic products by eliminating Chinese products, the field of production has to be created first and its price has to be kept within reach. That is virtually unrealistic.
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