Sajjan Jindal, the Chairman of JSW Group, said that they are cutting trade links with China. He stated that while our soldiers are getting killed at LAC, we cannot keep making money by purchasing cheaper Chinese materials.
“It is not an easy route. The auto industry is dependent on China for40% of components. The steel industry’s 100% refractories come from China. One approach is to say that war will be fought by our soldiers, and my job is to make steel at a cheaper price by buying from China. But another view is — look at the $100 billion opportunities that Indian companies should tap. There will be some pain in the short run. But see, I respect my country and my army. If they (China) have killed 20 of my soldiers, I’m not going to buy products from them and strengthen their armies more,”Sajjan Jindal said.
The group has recently stopped all their purchases from China. He emphasized that no material should be imported from a country that no friendly to India.He informs that 100% refractories in his company also come from China but they have already found an alternative. Currently, they are buying materials from Brazil, Turkey and some from India.
He said that importing materials from countries other than China costs them about 10-15% more, but they believe as the countries’ capacity will increase the cost will surely neutralize in coming 3-6 months. At present, they have to negotiate or even sacrifice some cost for short time. But in long run, it will benefit our nation.
He also calls all industrialists to take this as an opportunity to come together and curb Chinese imports for a stronger Atmanirbhar Bharat. We should support our government and army by supporting domestic products in achieving quality and scale.