Amidst Tensions Rs5000 Crore Worth Deal Put On Hold

SOURCE: outlookindia.com

It isn't every day that a whooping 5000 crores worth deal gets put on hold by the government of any nation. Earlier this year the Shivsena led Maharashtra government had organized Magnetic Maharashtra and signed 12 memoranda of understanding worth 16000 crores. This all happened before the loss of soldiers' lives from both sides of the border between India and China.

Foton Car SOURCE:carsalesbase.com

This border issue didn't start in a day, it was actually the consolidation of Indian borders by acquiring high tech weapons for defense and connectivity via roads, the border roads were being constructed at a much higher rate in the current NDA government resulting in China being a bit threatened by the movements at the Indian side. But it shouldn't have been made an issue because it was for self-defense. Later the troops clashed at the Galwan valley for asserting their dominance over the region and china, as usual, trying to illegally acquire its neighboring lands. China is now in full diplomatic war against India as it is trying to woo neighboring nations like Nepal, Pakistan, Bangladesh, and Sri Lanka. With the army accumulating at the India-China border at the valley, the situation is certainly tense and no nation wants to back away from it. The Indian government officially launched the scheme "Aatanirbhar Bharat" which indirectly hinted the nation to support Indian products more and stop dependence on Chinese goods. Now that China has gone so far against India, it is now seen that a movement to boycott Chinese products has begun which has been subconsciously active for years but not as effective and successful as now.

Great Wall Motor Car SOURCE: economictimes.indiatimes.com

Maharashtra government had signed MoUs with three Chinese automobile companies to set up their production. This included 3770 crores MoU with Great wall motors, 1000 crores partnership with Foton and PMI Electro Mobility, and a commitment of Henglu engineering of 250 crores.
Now UP, Haryana and traders unions like MSME and CAIT are also declaring their outrage by supporting the boycott.