'India's dependence on Chinese imports for MSME goods has been declining'

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'India's dependence on Chinese imports for MSME goods has been declining' - Business Standard

Quick Summary:

India's reliance on imports of MSME goods such as articles of leather, toys, and musical instruments from China is declining steadily, reflecting the country's efforts to diversify import sources and strengthen domestic production capabilities, an official said on Monday.

Citing data, the official said that the concentration of musical instrument imports from China has decreased from 77.58 per cent in 2013 to 51.51 per cent in 2023.

The share of imports of essential oils, cosmetics, and toilet preparations from China has also declined from 16.33 per cent in 2013 to 11.86 per cent in 2023.