China accounts for a sizable portion of India’s top imports, especially where intermediate products or components and raw materials are concerned. Banning the imports of raw materials from China without which products over here cannot be manufactured will make things difficult and expensive.
There are strategic and key raw materials that India imports from China due to which Indian exports of finished goods are more competitive.
China accounts for 80 percent of raw materials for making medicines, lifesaving antibiotics in India. The country, with its rich natural resources, has certain essential and critical raw materials in abundance e.g. rare earth products, natural graphite, tungsten, and magnesium. Hence, India and the world will continue to depend on China for these essential raw materials.
Raising manufacturing standards
Today, world economies are interconnected. Globalization process has evolved over a period of time for obvious reasons and benefits.