Heart Of The Matter: India has taken many bold steps to corner Pakistan after the cowardly attack on the Indian paramilitary force CRPF at Pulwama, Kashmir, on 14th February 2019 by a terrorist. Jaish-e-Mohammed JeM, claimed responsibility for the cowardly attack. India made a bold move of attacking the terrorist camp, inside Pakistan, located at Balakot with airstrikes by the Indian Air Force, IAF. The surgical strike supposedly killed nearly 300 terrorists.
Want to know more on Investment Planning? We at IndianMoney.com will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney.com is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.
India removed the Most Favored Nation, MFN, status for Pakistan and slapped a staggering customs duty of 200% on Pakistani goods. India was successful in diverting various international flights from Pakistani airspace for a good duration of time. India was successful in cornering Pakistan from the rest of the world. Indian vendors stopped export of goods to Pakistan.
Organization of Islamic cooperation, OIC, invited Sushma Swaraj, the Minister of External Affairs of India to address the member nations. Pakistan boycotted the meet saying UAE should have consulted them before inviting Sushma Swaraj. Sushma Swaraj became the first woman to address a meeting of OIC.
Global terrorist Osama Bin Laden, one of the founders of Al-Qaeda, was killed in an operation carried out by the US Special Forces at Abbottabad, Pakistan. It has been proven time and time again that Pakistan is a haven for terrorists.
Masood Azhar is reportedly the mastermind of the cowardly Pulwama attack. Masood Azhar is suspected to be hiding in Pakistan. India has produced substantial evidence of terrorist camps in Pakistan, but Pakistan has been refuting the allegations made by India, counterparts.
Masood Azhar is the kingpin of the attack that took the lives of 44 brave CRPF jawans. India wants Masood Azhar to be branded a ‘global terrorist’.
United Nations Security Council UNSC, called for a meeting of all Veto nations. Veto nations are China, France, Russian Federation, the United Kingdom, and the United States of America. All members apart from China decided to brand Masood Azhar a global terrorist, thereby blocking India’s bid at the UNSC. This is because China had to facilitate the China – Pakistan Economic Corridor (CPEC). Branding Azhar a global terrorist would spoil the reputation of Pakistan across the World and China doesn’t want Pakistan to face such a situation. This is the fourth time China has voted against deeming Azhar a global terrorist.
Following this move by China, #BoycottChineseProducts is trending on twitter.
What are the possible financial implications if India boycotts Chinese products?
Chinese products have a huge global market. The United States of America imports 19.2% of the total Chinese products. India is the seventh largest importer of Chinese products. India is a market for 3.1% exports of China and the market is worth $76.9 Billion.
Going by the numbers, India boycotting Chinese products wouldn’t have much of an impact on the Chinese economy. China is a global manufacturing hub. Indian economy would suffer a lot by boycotting Chinese products.
Following are the major implications of boycotting Chinese products:
·China is the biggest trade partner of India. Indian economy would be massively jolted by blocking Chinese products in India.
·India heavily imports raw materials and machinery from China. By boycotting Chinese products, Indian manufacturing sector would crash.
·With India boycotting Chinese products, China too would follow suit, boycotting imports from India. China imports around 1% of its total imports from India. This is roughly around 4.5% of the total exports of India. If China boycotts Indian products, the Indian economy would take a massive hit.
·It would be difficult for India to find replacements for cheap Chinese products. Indian mid and low income citizens would be massively impacted. Most toys and dolls in India are Chinese made.
Impact On Smartphones in India
By banning Chinese products, we will have to stop importing cheap smartphones that are made in China. Most smartphones are manufactured and assembled in China, including Apple and Samsung. By boycotting Chinese products, you also boycott smartphones.
The kind of features that a 10k Chinese made smartphone offers would not be offered by even a 25k Sony and Samsung made phone. Chinese smartphones have become the heart and soul of communications in rural India. Most Indians are able to afford a smartphone due to the presence of Chinese made phones.
Have a complaint against any company? IndianMoney.com's complaint portal Iamcheated.com can help you resolve the issue. Just visit IamCheated.com and lodge your complaint. If you want to post a review on any company you can post it on Indianmoney.com review and complaint portal IamCheated.com.
Be Wise, Get Rich
As per the latest report, Xiaomi is the most popular brand amongst the first time smartphone buyers, followed by Lenovo and Samsung. As many as 23% of the first time smartphone buyers opt for Xiaomi phones, 14% for Lenovo and 12% for Samsung. Oppo and Vivo are the other popular Chinese smartphone brands in India. Oppo and Vivo brands have a market share of 7 to 10%. Micromax, Karbonn and Celkon cannot compete with Chinese brands of Xiaomi, Oppo and Vivo. These Chinese brands offer a far better set of features at a very affordable price, thus making them the best option for mid and low income Indians.
This is to inform that Suvision Holdings Pvt Ltd ("IndianMoney.com") do not charge any fees/security deposit/advances towards outsourcing any of its activities. All stake holders are cautioned against any such fraud.