China is one of the largest trading partners of India. According to the Ministry of Commerce and Industry, India’s trade with China during 2018-19 was USD 87.07 billion, out of which the value imports was USD 70.32 billion. India’s exports to China during 2018-19 stood at 16.75 billion, signifying the huge deficit of over USD 53 billion.
China accounts for over 13% of India’s imports across various sectors. Major imports of India from China includes APIs, electrical products, nuclear machinery, plastic products, organic chemicals, fertilizers, iron, steel, furniture, toys, medical instruments, etc. India’s imports from China have witnessed a significant drop during the recent coronavirus pandemic due to supply chain disruptions. The recent border tensions with China has led to growing anti-China sentiments in the country, drastically impacting the sale of China originated products in the domestic market.
Following the Covid-19 pandemic, the Government of India has also decided to make India self-reliant by minimizing the imports. The government has been pushing to increase domestic manufacturing through ‘Atmanirbhar Bharat’ scheme by providing several initiatives. The government has recently announced production-linked incentives worth of INR 2 lakh crores to the manufacturing industry. The Government of India has also rolled out ‘One Product One District’ scheme to promote products specific to a particular location across the country. The Prime Minister of India Narendra Modi has been advocating ‘Vocal for Local’, requesting people to promote local brands to achieve the goal of self-reliant India.
In line with the vision of ‘Atmanirbhar Bharat’, the Department of Promotion of Industry and Internal Trade (DPIIT) has proposed a list of 24 key sectors that need immediate attention to encourage indigenous manufacturing and promote exports. The list of 24 key sectors shortlisted by the DPIIT includes food processing, toys manufacturing, electronics, textiles, agro-chemicals, industry machinery, auto components, etc. The DPIIT has shared the list of identified sectors with respective ministries asking them to prepare a strategy to boost manufacturing in these sectors. The DPIIT has given ministries a preliminary action plan, from which they will prepare their action plan and come out with their own policy.
Consumer Electronics Imports of India from China
Among all the products that India imports from China, consumer electronics require special mention owing to their proliferation in the domestic market. Here is the list of consumer electronic products that India imports from China.
- Air Conditioner, Purifier, Humidifier, Dehumidifier
- Refrigerator, Freezer
- Electric Water Heater
- Electric Fan and Exhaust Fan
- Solar Water Heater
- Household Water Treatment Equipment
- Photographic Apparatus
- Gas Stove and Gas Burner
- Electric Kettle
- Food processor and Food Blender
- Home Theatre Systems and Portable Audio Appliances
- LCD Display
- Wearable Devices
- Digital Camera
- Smart Glasses
- Digital Photo Frame
- Mobile Phone Accessories like Charger, Power Bank, Headphones, etc.
These are the various consumer electronic products that domestic manufacturers can focus on as a replacement for the imports from China. India is one of the fast-growing consumer electronics market in the world. The appliance and consumer electronics market in India is expected to become USD 21.18 billion by 2025, providing immense business opportunities for electronics manufacturers in the country. Changing lifestyle of people, growing urbanization, easy access to credit, increased digitization, etc. are expected to drive the consumer electronics market in India.
If you are planning to enter into the manufacturing industry, then kindly register with SolutionBuggy, India’s largest manufacturing consulting platform with more than 60000 industries and 8000 manufacturing consultants. As a thought leader in the Indian manufacturing sector, we help new entrepreneurs successfully start their manufacturing business by undertaking the complete execution of their project. We also help existing manufacturing industries address their technical and business challenges and realign their business strategy. Our trusted and verified manufacturing consultants provide a wide range of services such as market research, product identification, funding, plant setup, product development, R&D, quality improvement, packaging, sales, etc.
Kindly, follow this space to know more about the products across various sectors which India imports China and scope for the domestic manufacturing of these products.