Small traders in Bengal are unsure of the immediate effectiveness of CAIT’s call to boycott goods imported from China. To replicate that in India, the focus has to be on developing cottage industries and banks would have to take the risk and support investment. The small scale industry also faces the challenge of delayed receivables that have been aggravated by the lockdown. CEA viewChief Economic Advisor Krishnamurthy Subramanian said that a policy of import substitution will not necessarily help in building indigenous capability. “To think that exports can increase without imports also happening is impractical,” he said on Tuesday.

Source: The Telegraph June 24, 2020 20:03 UTC