Again, misunderstanding the headlines........do read the entire news and understand why they are doing so.................
Stopping imports from China at domestic ports will lead to losses for those Indian businesses that placed orders prior to border clashes, according to Nitin Gadkari, Union minister for micro, small and medium industries. The MSME Ministry is actively working with the finance and commerce ministries to resolve this issue, Gadkari said in an interview to Quintillion Media’s Editorial Director Sanja
The MSME Ministry is actively working with the finance and commerce ministries to resolve this issue, Gadkari said in an interview to Quintillion Media’s Editorial Director Sanjay Pugalia. Indian entrepreneurs placed import orders with Chinese companies through letters of credit and other mechanisms before the border clashes arose, he said. As such, goods may take more than a month’s time to arrive in India and local businesses will suffer if goods remain stuck or are returned because they originated in China, Gadkari said.
The government, Gadkari said, can think of imposing restriction or duties on future imports. The two south Asian nations are embroiled in a border standoff that killed 20 Indian and an unknown number of Chinese soldiers earlier this month. India, according to a Bloomberg report, is planning to impose stringent quality control measures and higher tariffs on imports from China.
Read more at: https://www.bloombergquint.com/politics/holding-chinese-imports-at-ports-will-harm-indian-businesses-says-nitin-gadkari
Copyright © BloombergQuint
People here dont know that government has to plan a lot before taking any decision to reduce the impact on its own citizen as much as possible.......yes they are going there, taking decisions, imposing it.......but in the meanwhile they cannot punish our own businessmen for it........
11