Boycott of Chinese goods will hurt India, says Beijing
Chinese embassy warns of adverse effect on flow of investments to India and bilateral cooperation
Amid signs of a decline in the sale of Chinese merchandise this Diwali, Beijing said any move by India to boycott its goods will affect the flow of investments to the country.
The call to boycott Chinese goods came in protest over China’s continuing support of Pakistan despite recent terror attacks by Islamic militants on Indian military bases.
China said the boycott of goods will not affect it as India accounts for only 2% of its total exports.
The Chinese embassy in Delhi said China is more concerned that the boycott will negatively affect Chinese enterprises investing in India as well as bilateral cooperation.
Delhi’s Sadar Bazaar reported a 20% drop in the sale of Chinese goods during the annual Hindu festival of lights despite their low prices, the embassy said, adding that the boycott may also affect the sale of Chinese goods not related to Diwali.
Over the past 15 years, Sino-Indian bilateral trade has grown 24 times, from US$2.9 billion in 2000 to US$71.6 billion in 2015.