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LATEST NEWS UPDATES | Our dependency on China didn’t happen overnight -Biswajit Dhar and KS Chalapati Rao

Our dependency on China didn’t happen overnight -Biswajit Dhar and KS Chalapati Rao

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published Published on Jul 3, 2020   modified Modified on Jul 8, 2020

-NetworkIdeas.org

In the wake of the India-China conflagration at the border, the worst in more than five decades, the fault lines of India’s economic relationship with its northern neighbour are now wide open. Amidst the demands for boycotting Chinese products and investments, the Government of India finds itself in a bind, given the sheer dependence of the Indian economy on China.

This dependence did not happen in a hurry; it took China the good part of the past decade and a half to slowly but surely dominate India’s market for telecom and electronics products, the backbone of government’s Digital India mission. More important is India’s dependence on China for the Active Pharmaceutical Ingredients (APIs), which have helped the Indian generic manufacturers to provide cheap medicines. China supplies more than 90 per cent of the APIs for several antibiotics and vitamins, which implies that India does not have an alternative source for meeting its API requirements.

Dependence on a single country for critical products in such a large measure can never be a right strategy, especially for a country like India. This situation, therefore, needs to change, but it can happen only through the adoption of policies that can help a transition to a new normal. India’s policy makers must reflect on what they should have done, but did not, during the past decade and a half.

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NetworkIdeas.org, 3 July, 2020, https://www.networkideas.org/news-analysis/2020/07/our-dependency-on-china-didnt-happen-overnight/


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