MSMEs, other businesses can help reduce $35 billion imports from China: PHD Chamber

India’s domestic enterprises, primarily micro, small and medium enterprises (MSMEs), in 36 sub-sectors can help reduce the country’s 40 per cent imports worth around $35 billion from China in a phased manner without any substantial extra investments, according to the industry body PHD Chamber of Commerce and Industry.

The products in these sub-sectors are manufactured at a lower volume in India, however, “the recent dynamic schemes announced by the government such as PLI and PM Gati Shakti have enhanced the sentiments of the Indian producers to produce more at the competitive cost which will give a considerable competition to China,” said chamber’s president Pradeep Multani in a statement.

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