In recent days, India has issued several new policies, all pointing to the revitalization of domestic manufacturing and restrictions on other countries’ products. This will put China, which is India’s largest trading partner, bearing the brunt. It is reported that India has recently formally approved the adoption of a national manufacturing policy aimed at accelerating the development of domestic manufacturing and stimulating employment. At the same time, foreign trade policies also have new trends. On the one hand, new measures to stimulate the development of export-oriented enterprises in labor-intensive industries have been introduced, and on the other hand, China's production of electricity instruments and meters imposes tariffs to reverse the trade deficit with China.

Indian Public Enterprise and Heavy Industry Minister Praffer? Patel plans to hold a meeting on November 3 to discuss and promote domestic proposals on levying tariffs on imported power instrumentation. The meeting was to respond to local manufacturers’ requirements for restricting the import of China’s power equipment. Indian Ministry of Heavy Industry officials and officials from the Ministry of Commerce and Energy will attend the meeting.

An anonymous senior government official in India stated: "For a long time, as China's cheap power equipment has entered the market, domestic companies have complained about the decline in competitiveness. If we can impose tariffs and consumption tax on China's power equipment, the effective tax rate for such equipment will reach 17% to 18%.”

At present, China is India’s largest trading partner. According to customs data, from January to October this year, China’s exports to India totaled US$54.5 billion, an increase of 26% year-on-year, and US$37.2 billion in imports, a year-on-year increase of 8.9%. Electrical machinery and other mechanical industrial products are China's major products exported to India. India’s plan for China’s power equipment is based on its strategy of revitalizing domestic manufacturing and restricting Chinese exports.

“This is a very short-sighted policy option and cannot solve long-term problems.” Chinese experts said that in fact, India’s domestic electricity supply cannot keep up and local manufacturers can no longer meet the increasing market demand. Therefore, limiting the import of China’s power equipment is harmful to people. Unfavorable behavior.

In addition, the basic conditions for the current development of manufacturing in India are not yet available. To develop the manufacturing industry requires a large amount of infrastructure investment and long-term population education. However, India must focus on short-term trade restrictions. This does not solve the problem of long-term development. .

Experts said that in the context of the lack of optimism in the US and European markets, Chinese companies are increasingly looking to India, Brazil and other emerging market countries. These countries have also become an important source of growth for China’s exports. However, these countries have gradually exposed the trend of trade protection. This undoubtedly makes the situation of Chinese enterprises more difficult and also increases the uncertainty of exports.