Modi Government teaches China a 'big lesson'

India gives 'economic shock' to China once again

SEP 05 (WTN) - China is a country which continues to have border disputes or any other dispute with each of its neighbors. In fact, China's leftist government with an expansionist mindset is constantly having border disputes with India over the LAC (Line of Actual Control). Not only this, but the dispute between the two countries over the LAC was so heightened that there was a violent skirmish between the soldiers of the two countries in the Galwan Valley of the eastern Ladakh, in which 20 soldiers of India were martyred.

However, since the Galwan Valley incident happened, the Modi Government of India is taking a very strong stand against China. This stern stance of the Modi Government is visible on the LAC. At the same time, the Modi Government is taking strict steps to teach China a lesson financially. In this context, as you know, the Indian Government has banned many apps in China, including Tik Tok. At the same time, to limit the imports from China, the Indian Government is teaching China a lesson by amending the rules of import and increasing tariffs.

At the same time, the Modi Government has now taken a big step to reduce imports from China under the FTA (Free Trade Agreement). For your information, let's know that.the Modi Government is now going to implement the rules of origin under the import law so that China's imports through the FTA will  easily be controlled.

In fact, with the Rule of the Origin to be in force, now, China will not be able to ship goods through Vietnam, Indonesia, and Thailand without any permission of Indiat. For your information, let's know that through the Rules of Origin, the Modi Government has taken this.decision to clamp down on the import of China to stop the import of poor quality products and to prevent the dumping of the products from a third country (China) through the partner country in the FTA. 

For your information, let's know that the countries with two trading partners in the FTA agreement either completely remove or reduce the import duties or customs duties on the mutual trade processes. At the same time, according to the rules of the FTA, when submitting a bill of goods to the importer or its agent for the claim of tariff reduction or exemption under the trade agreement, it is required to declare that the product concerned is eligible for preferential tariff.

In fact, to curb China's imports, the Modi Government is using FTA rules as a weapon. Explain that under the provisions of the FTA, the country, which has done FTA with India, cannot dump that product in the Indian market by putting its country label on a third country product. At the same time, if that country does this, then it will have to increase its price to export the product of a third country to the Indian market.

It is worth noting that India has FTA with the 10 ASEAN countries. At the same time, many of the 10 countries of ASEAN also have FTA with China, which includes countries like Vietnam, Thailand, and Indonesia. In fact, the Government of India, through the FTA rules, is helping to prevent the dumping of products manufactured in China through a third country. It may be said that this big and tough decision of the Modi Government will curb China's imports through FTA, and China will get a lesson.