Ludhiana, Jan 21 (KNN) The Ludhiana screw industry in a meeting with Union industry and commerce minister Piyush Goyal urged him to intervene over increasing imports from China.

The industry delegation claimed that   due to unchecked imports of very cheap priced China made screws, the local industry is facing huge losses.

The businessmen urged union minister for his urgent intervention or else the industry will be destroyed.

Vishal Garg who was leading the delegation said, “Chinese manufacturers and exporters are dumping goods in India by adopting various malpractices like wrong classification, under invoicing etc due to which there is huge revenue loss.”

“Besides this, the imports are also a major threat to the survival of Indian manufacturers who are manufacturing the same type of goods by adopting fair business practices,” he said.

Garg pointed out that this is also affecting the 'Make in India' initiative of our government and therefore something urgently needs to be done to check this problem. 

According to Vishal Mahajan, general secretary of Northern India Screw Manufacturer and Traders Association, “For last several decades entire screw consumption in the country was being fed only from China and there were no local manufacturers at all.”

But from last five years, hundreds of local businessmen in Punjab took huge risks and setup screw manufacturing units to take on China and were successful in doing so by making high precision products and fulfil the local demand, Mahajan said.

Mahajan also added, “The government and local industry are paying heavy price due to this huge influx of goods from China as unchecked imports are not only leading to GST and Custom duty evasion but other malpractices are taking place with the connivance of several elements.

The locally made  screw which costs Rs. 115 per kilogram is being dumped by China for only Rs 85.This is hurting the local industry.  (KNN Bureau)