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Indian firms in the electronics, solar, and electric vehicle (EV) sectors are experiencing delays and disruptions due to China's restrictions on export of key inputs and machinery, economic think tank GTRI said on Thursday. It said the curbs could be China's response to India's restrictions on Chinese investments and visas. "This also signals deeper geopolitical tensions and trade war. We hope India-specific restrictions go away soon as they will also hurt China," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. He added that while these measures impact India's electronics, solar, and EV sectors, they are also harmful to China's own manufacturing and exports. "Indian firms in electronics, solar, and EV sectors are facing delays and disruptions as China blocks exports of inputs and machinery," it said. India must stay firm against unreasonable demands from China and focus on building local manufacturing capabilities and diversifying supply chains, he ...
The government on Sunday imposed import curbs on parts of pocket lighters with immediate effect, a move which would help encourage domestic manufacturing and cut dependence on their inbound shipments from China. "Import of parts of pocket lighters, gas fuelled, non-refillable or refillable lighters (cigarette lighters)... is restricted with immediate effect," the directorate general of foreign trade (DGFT) said in a notification. Imports of cigarette lighters, priced less than Rs 20, are already prohibited. The import ban is also there on pocket lighters, gas-fuelled, non-refillable or refillable. Last year, the government also issued mandatory quality standard norms for flame-producing lighters with a view to contain import of sub-standard goods and boost domestic manufacturing. Items under the quality control orders (QCO), cannot be produced, sold/traded, imported and stocked unless they bear the BIS (Bureau of Indian Standards) mark. During April-July this fiscal, import of lig
China's exports grew for a fifth consecutive month, in a sign of growing demand abroad even as imports fell amid a slowing Chinese economy. Exports in August expanded by 8.7 per cent to USD 308.65 billion compared to the same period last year, according to data released by China's customs office Tuesday, beating economists' estimates of about 6.5 per cent. The export figures for August were also up from the 7 per cent rise in July. The reading in August is the strongest in 18 months, thanks in part to a low base in August 2023, when exports declined 8.8 per cent. By comparison, imports grew just 0.5 per cent compared to a year ago, falling short of the approximately 2 per cent estimate by economists. Chinese leaders have ramped up investment in manufacturing to rev up an economy that stalled during the pandemic and is still growing slower than hoped. Export values grew year-on-year at the fastest pace in 17 months, with export volumes hitting record highs. We expect exports to rem