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Lets remind #Pappu Gandhi on who actually destroyed the labourers, farmers and weavers.
It was not Indian industrialists.
It was the industrial might of China.
And it was his own UPA govt which facilitated China in breaking the backbone of Indian MSME. https://twitter.com/ANI/status/1353286317614845955
It was not Indian industrialists.
It was the industrial might of China.
And it was his own UPA govt which facilitated China in breaking the backbone of Indian MSME. https://twitter.com/ANI/status/1353286317614845955
India ran a trade deficit of $1 billion with China in 2001-02.
By 2012-13, the deficit aggregated to $175 billion.
India imported from China 3x more than it exported to it. That money could fund China's defence budget for 3 years.
So how did we reach from $1 bn to $175bn?
By 2012-13, the deficit aggregated to $175 billion.
India imported from China 3x more than it exported to it. That money could fund China's defence budget for 3 years.
So how did we reach from $1 bn to $175bn?
China has been infamous for dumping products. India had always been alert and offensive against and filed cases against China at WTO. This coupled with high tariff rates (20% in 2002) protected Indian small businesses.
When UPA came, they started reducing the trade-weighted tariff rates year after year reaching a rock bottom of 8% in 2008. On the other hand, dumping case shot to 27% in 2007. When Indian govt should have fought back, they were essentially throwing away their shields
China's share of imports into India shot to 25% of the capital goods,
50% of textile yarn and made ups,
75% of cotton yarn/fabric,
90% of silk yarn and raw silk,
50% of manmade filament yarn/fabric,
33% of readymade garments,
66% of synthetic fibre.
So who destroyed weavers?
50% of textile yarn and made ups,
75% of cotton yarn/fabric,
90% of silk yarn and raw silk,
50% of manmade filament yarn/fabric,
33% of readymade garments,
66% of synthetic fibre.
So who destroyed weavers?
China's share of imports was
33% of chemicals, medical and pharma items,
66% fertilizer manufactures,
16% of machine tools,
25% of steel,
66% electronic goods, non-metallic manufactures.
Roughly every industry was destroyed by China.
33% of chemicals, medical and pharma items,
66% fertilizer manufactures,
16% of machine tools,
25% of steel,
66% electronic goods, non-metallic manufactures.
Roughly every industry was destroyed by China.
UPA's socialist policies discouraged manufacturing.
Reduced tariff rates promoted imports.
Companies found it cheaper to import from China than buying from suppliers or manufacturing here.
This resulted in job loss.
So it was you who destroyed the backbone of Indian industry
Reduced tariff rates promoted imports.
Companies found it cheaper to import from China than buying from suppliers or manufacturing here.
This resulted in job loss.
So it was you who destroyed the backbone of Indian industry
Worse, your govt did not even use this position of being China's big market as a leverage to negotiate with them on international forums.
See how present govt countered Malaysia.
Or why Gulf nations remain silent on Kashmir.
No one wants to piss off India and let a huge market go
See how present govt countered Malaysia.
Or why Gulf nations remain silent on Kashmir.
No one wants to piss off India and let a huge market go
