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Direct impact of Centre’s move to rely on domestic production capabilities
India’s imports from China during April-July 2020 decreased to USD 16.60 billion from USD 23.45 billion in the corresponding period of the previous year. Atmanirbhar Bharat and the impact of COVID-19 pandemic has witnessed changes in India’s import policy.
Of the 50 items exhibiting decline in imports includes residual chemical and allied products and fertilisers. Fertilizer import from China has dropped from USD 581.24 Mn in Apr July 2019-20 to USD 361.20 Mn in Apr July 20-21.
The Centre has also sensitized stakeholders to source critical imports from diversified sources. The full impact of these measures on the industry will be discernible as the global economy recovers, and recovers from the recessionary effects of the pandemic.
