India gears up to combat Beijing’s ‘Made in China 2025’ manufacturing plan
The Hindu
India prepares to counter China's 'Made in China 2025' strategy with anti-subsidy measures and possible Western collaboration.
India is bracing to meet the challenges posed by Beijing’s ‘Made in China 2025’ strategy, a three-step plan to promote China as a high-tech manufacturing powerhouse by 2049, through a slew of measures to check subsidised imports, including anti-dumping and anti-subsidy duties, quality control orders and a possible collaboration with Western nations, sources have said.
Under the Made in China 2025 strategy, the government provides subsidies, including low-interest loans and tax breaks, to hi-tech companies such as electric vehicle manufacturers, chipmakers and new and renewable energy equipment producers.
“We cannot allow China to export subsidised items. India is utilising both options: imposing anti-dumping and anti-subsidy duties, as well as implementing quality control orders(QCO) to check imports of cheap items from China.
“This will remain our strategy going forward,” an official tracking the matter told businessline .
China was the top supplier of goods to India in 2023-24, accounting for imports valued at $101 billion, while India exported goods worth $16.65 billion.
While the Department for Promotion of Industry and Internal Trade (DPIIT) is the nodal body, monitoring China’s moves, the Ministry of New & Renewable Energy also keeps a close watch, the official added.
Introduced in 2015, the ‘Made in China 2025’ strategy is aimed at achieving 70% self-sufficiency in hi-tech industries by 2025, competing with other manufacturing rivals by 2035, and transforming the country into a global manufacturing powerhouse by 2049.
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