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Monday, July 6, 2020

China breaks honeycomb after spoiling ties with India: 'Dragons' now have one current after another

New Delhi: Tensions between India and China continue to rise after a violent spate in Galwan.  India is showing an aggressive attitude to face any situation against China, be it economic or diplomatic.  In the 20 days since the murderous game on the night of June 15, India has dealt the Dragons several economic blows.  Which has cost China billions of rupees, so let us know where India has taken such aggressive steps to crush the dragon?

► 59 Chinese apps banned
 India's biggest action against China was taken on the evening of June 29.  In which India banned 59 Chinese apps rather than digital strike on Dragon.  This includes many popular apps, including TikTok.  According to China's mouthpiece Global Times, the ban on TikTok and Helo app alone is expected to cost the Chinese baitdance company Rs 45,000 crore.

 Also read: Rock on Chinese apps will not stop your work though, these indigenous apps are the best option

  China released from 5G race
 Billions of rupees were signed with Chinese companies to launch 5G internet service in India.  State-owned telecom companies BSNL and MTNL also awarded contracts to Chinese companies to expand 5G services.  With its repeal, China has suffered a major economic blow.

 Dragon current at the point of electrical devices
 Union Minister RK Singh has announced a ban on imports of electrical appliances from neighboring countries like China and Pakistan.  India imports electrical appliances worth Rs 71,000 crore every year.  Of this, devices worth Rs 21,000 crore were imported from China alone.  Now, with the government's decision, it is only natural that China will suffer.

Chinese company out of Kanpur-Agra Metro contract
 Uttar Pradesh Metro Rail Corporation (UPMRC) has opened a tender for catch supply for the Kanpur and Agra Metro rail projects, leaving the Chinese company out.  Both the metro projects are to supply coaches for 67 trains.  Now the contract has been awarded to Bombardier India Pvt. Ltd. of Gujarat.

 Also read: China's 2017 law enacted behind digital strike on 'dragon'

 Billions of contracts snatched from Chinese companies in Bihar
 The Nitish government has canceled the contract for a bridge over the river Ganga in Patna.  The bridge is going to be built near the existing Mahatma Gandhi Bridge.  Along with this, a road of about 15 kilometers is also to be built.  The total contract is worth Rs 29.26 billion.  Two of the 4 contractors selected for the project were Chinese.  The contract has therefore been canceled.

 ► Railways also gave crores of current
 A contract worth Rs 471 crore was awarded to a Chinese company in 2016 for signaling between Kanpur and Pandit Dindayal Upadhyay Junction.  However, the Railways has also canceled the contract in view of the current tensions between the two countries.

 ► Delhi's e-bus project also snatched from China
 The Delhi government is preparing to launch 1000 e-buses to reduce pollution.  The plan was to buy bus parts from China and assemble them in India.  Now the Delhi government has decided not to buy any parts from China.  Now Delhi has started looking to European countries for this.

 Increased customs duty on Chinese products
 Just a few days ago, the Indian government increased the customs duty on goods imported from China.  This includes everything from toys to electronics manufactured in China.  That would cost China billions of dollars.

 China also became a villain for the Hero Bicycle
 Pankaj Munjal, chairman and MD of Hero Cycles, has dealt a major blow to China by canceling a Rs 900 crore deal after members of the United Bicycle Parts and Manufacturers Association (UCPMA) took the initiative to help reduce dependence on China.

 Chinese product disappears from Indian market

 India's aggression against China is at its peak after the Galwan incident.  People are celebrating Holi of Chinese products.  As a result, the sale of Chinese mobile and other products in the market has almost stopped.  Traders have also boycotted Chinese products.  Trade associations across the country have started using Indian products instead of Chinese products.

 In Ahmedabad, traders have also removed banners of Chinese mobiles in the China market on Relief Road.  Traders here have increased the prices of mobiles and accessories of Chinese companies in their stocks.  So that consumers refrain from buying it.  Apart from this, traders are emptying the stock of Chinese mobiles by becoming sellers on different sites.  Not only that, consumers are also avoiding buying Chinese mobiles until they can.

 It accounts for 70% of India's mobile market.  The boycott of Chinese mobiles by Indian traders and consumers could hit China hard.

 Break on Chinese investment through FDI
 After the tensions between India and China, the Modi government started controlling the investment of Chinese companies through FDI.  For this, the Government of India has also changed the rules of FDI.

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  In 2009-10, China invested 4. 41 million in Indian companies.  In 2014-15, China invested the most in Indian companies at 48 484.9 million.  Dragon's investment in Indian companies was 22 229 million in 2018-19 and .3 163.8 million in 2019-20.

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