Ludhiana:President of Federation of Punjab Small Industries Association (FOPSIA), Badish Jindal, has said amid lot of boasting about the policies and slogans like make in India skill India the economy of India is sliding down sharply for last two years.
In a statement here on Thursday, he added the Ministry of Commerce’s own data disclosed the real facts about the worst import export positions of India.
Adding, he said during last two financial years the imports from China to India surges up from 3,09,234 crores to 4,04,012 crores with an increase of around 29% whereas during the same period the exports from India to China dipped down from 90561 Crores to 59052 crores from 2014 to 2016.
He added the “wrong” policies of India further effecting the small industries as the government increased the import duties on raw materials instead of finished goods, which resulted that if we count month on month basis the data of May 2015 and May 2016 shows an increase of 67% in bicycles and the import of bicycle accessory from China increased from Rs.130 crores to Rs.227 crores from 2014-15 to 2015-16.
He further informed that the clear violation of SAFTA is very much evident from the data of Ministry of Commerce as in the year 2012-13 the China was exporting the compete bicycles worth Rs.265 crores and in the year2015-16 due to the increase of import duty from China the imports decreased to 69 crores. But by taking the undue advantage of SAFTA the Chinese companies exported the complete bicycles through Bangladesh, Srilanka. As a result where the exports from these countries to India of bicycle was nil in the year 2011-12 in the year 2015-16 these countries exported the bicycles to India of more than Rs.150 crores.
“The data further shows that to please a few houses the government put restrictions on the imports of steel items and that resulted in the increase of 15% in manufactured steel items”, he revealed.
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