AITF urges PM to restrict import from China & ASEAN over mounting recession concerns

New Delhi, Nov 14 (KNN) All Industries & Trade Forum (AITF) has requested Prime Minister Narendra Modi to impose import restrictions on China & ASEAN which may cross 20 lakh crore this year to help MSME industries from the impact of global recession.

In a letter to PM last week, the trade body said MSMEs are facing frequent closures and they will also go bankrupt if the government does not impose import restrictions.

It has also appealed for a CBI investigation to unearth the alleged scam of huge imports from ASEAN and under invoicing from China.

“China is cleverly sending such goods to India through ASEAN and underdeveloped countries, this is the reason that India's import from ASEAN countries increased to Rs 507,968 crore by 2021-22 and surprisingly these countries exported Rs 305,117 crore to India in the first four months of the financial year 2022-23,” said Badish Jindal National President, AITF.

Referring to BIS condition imposed on steel, the letter said with this Indian businessmen cannot import steel from China and China can send only manufactured goods to India.

“Today there is a difference of Rs 15000 per ton in the steel price of India and China. Hence due to such policies instead of raw materials china is dumping the finished products in India,” added Jindal.

He further said this is how it has impacted Amritsar, Chandigarh, Chennai and Rajkot and thousands of units manufacturing all fasteners and screws and led them to closure.  (KNN Bureau)