Economic Survey warns of risks in overdependence on China

News: The Economic Survey warns of India’s “single-source concentration risk,” particularly from China, which poses supply chain, price, and currency risks.
Despite its growing industrial base, India’s manufacturing sector remains underdeveloped, contributing only 2.8% of global output compared to China’s 28.8%.
Dependence on Chinese goods for energy transition adds to the challenge. The Survey calls for aggressive efforts to attract local and foreign investments. GTRI’s Ajay Srivastava highlights China’s overcapacity-driven exports disrupting global markets, urging regulatory reforms to support MSMEs.
India must sustain 8% growth for two decades to achieve developed nation status by 2047 but faces hurdles from China’s dominance in EVs, critical minerals, and clean energy.
Source: The Economic Times
Join The Community

Recent News
-
Trump New Executive Orders Could Impact Indian Pharma Exports, Alter Global Drug Supply Chains: Report
-
Supply Chain Shifts Boost India, South Asia’s Industrial Growth: Report
-
Tamil Nadu Set to Introduce Dedicated Warehousing Policy with Emphasis on Delta and Industrial Clusters
-
Indian Cargo Airlines Face Soaring Costs Amid Airspace Closure Crisis
-
200-Crore of 8-Acre Logistics Park Inaugurated at Bengaluru Airport
2 Comments