New Delhi, Jul 11 (KNN)  To address concerns raised in Parliament that India is importing from China, almost everything from “pen to piano,” the Commerce Minister, Nirmala Sitharaman today said that her Ministry is in talks with the Finance Ministry to discuss ways of protecting the local manufacturing industry.

She said that as regards to giving protection to the local manufacturing, “We are certainly sitting and talking with the Finance Ministry also to see what are the ways in which manufacturing which is indigenous could be given additional impetus.”

The issue was raised during question hour in the Lok Sabha by Kirit Somaiya, a BJP member from North East Mumbai.

Somaiya said that the Indian manufacturers have turned into traders.  To alleviate the situation, the local engineering manufacturers have to be given not only protection but also support.

Replying to Somaiya’s concern, the Commerce Minister referred to the MOU signed with China with regard to industrial parks, saying it is aimed at setting the trade imbalance between the two countries of USD 36 billion to some order.  

“We are importing a lot more than what we are exporting to China.  As a result, this setting up of these industrial parks themselves is with an intention of getting more investment of China into India. Those commodities which we are buying from China, if through this MoU and setting up of industrial parks with investment from China, if those goods could be produced in India, we do not need to import them,” Sitharaman said.

“We get an advantage that the investment happens in India and we are able to buy those goods which are produced in India itself.  So, this itself is a major step towards redressing the trade imbalance,” she added.  (KNN/PC)