After the clash in Ladakh, India and China’s animosity has grown. The attempt of economical independence of India has risen to be of utmost importance. To sever the dependence on china, Indian citizens are advised to replace Chinese hardware at their homes with an Indian alternative and uninstall software as soon as possible. Although that will highly effective it’s not enough. The governments need to freeze projects and put an end to business with china too.
Maharashtra’s Maha Vikas Agadhi government has taken a bold step and froze business with china worth 5000crores at the recent Magnetic Maharashtra 2.0 investor meet. Due to the economy being drastically hit, owing to the worldwide pandemic, governments of every state are rising to the occasion of crisis to organize projects to uplift the economy. Magnetic Maharashtra 2.0 was a similar endeavor by the Maharashtra government.
Industry minister Subhash Desai said, “The decision has been taken in consultation with the Union government. These were signed prior (to the killing of 20 Indian soldiers on the Indo-China border). The ministry of external affairs has advised not to sign any further agreements with Chinese companies,”
What are the investments with china that were kept on hold?
MoU with Great Wall Motors (GWM) worth Rs.3,770crores with the purpose of setting up an automobile plant in Talagaon, near Pune. This agreement was signed in January by GWM to procure the aforementioned automobile plant from General Motors.
As a part-II of expansion at Talagaon, a commitment was made with a Chinese company, Hengli Engineering. This particular project worth Rs. 250crores was also put on hold. It would have generated 150 jobs.
In a joint venture of PMI Electro Mobility and Chinese company Foton, a project unit worth Rs.1000 crores was declared that would provide 1500 jobs.
After the massive clash at Galwan valley, the long struggle of India and China has been reignited. Indian States have realized the need of fighting back economically. Maharashtra has taken the first step in boycotting China. Maharashtra government had decided to hand over the power regarding decision making about MoU signed with China to the Central Government, according to Shiv Sena Chief Sanjay Ranaut.
Uddhav Thackeray, Chief Minister of Maharashtra said, “India wants peace but that doesn’t mean we are weak. China China’s nature is betrayal. India is Mazboot, not Majboor.” He further added, “Our government has the ability to give a befitting reply. We are all one. This is the feeling. We are with you, PM. We are with our forces and their families”
Although the agreements with China were put on hold, nine other MoUs were signed in the meet, with various companies of US, South Korea, Singapore, and other Indian companies for the upliftment of the economy.
Several states and companies are planning to freeze projects with China. Indian railways is juggling the idea to end a contract that was given to China, worth Rs.470 crores for DFCCIL. Haryana too, according to reports considering termination of projects with China.