The prolonged Doklam tension between India and China has finally ended post a series of talks.
The Indian apparel industry has reported no impact on the textile business due to the Doklam standoff. The industry is optimistic that the issue will have no effect on the future trade as well.
“It is a very sensitive yet an important topic to discuss. I personally think, there will be no impact on the business soon. China has grown tremendously in infrastructure and to sustain this growth, it cannot afford to spoil its relationship with any big country which is a major buyer of their products. They would rather try to solve the problems across the table,” said Sanjiv Jain, President & CEO, TQM Global Buying, Noida (India).
China is an important sourcing destination for India. The country offers products at reasonable rates when compared to other countries. Therefore, it holds great significance for the Indian buyers.
The scenario is no different for China from the business perspective. India is one of the biggest buyers of its products like textile & apparel machinery, accessories, specialised fabrics and yarns.
The political and border turmoil between the two Asian countries is bound to affect the bilateral trade and commerce sector.
Some industry stakeholders feel that if the problems escalate in future, it can have a spiralling impact on the trade relations between the two.
Prabhu Dhamodharan, Convenor, Indian Texpreneurs Federation (ITF), Coimbatore (India) stressed, “We are, however, confident about Indian Government’ strategy to deal with this issue. We may expect an amicable dialogue-based solution on the matter. We don’t see this as a major threat to our textile trade.”
He further suggested that instead of fighting, both the countries should look for opportunities in trade through Regional Comprehensive Economic Partnership (RCEP) negotiations.
