| Date: |
30-11-2011 |
| Subject: |
Heavy Equipment Imports from China Hurting Domestic Industry: Government |
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NEW DELHI: India imported heavy industrial equipment worth over Rs.15,083 crore from China during 2010-11 due to lower pricing, which is adversely affecting the domestic heavy industry, Minister of Heavy Industries Praful Patel said Tuesday.
"Primary reason for sourcing heavy industrial equipment from China by some Indian project developers is the lower price offered by the Chinese manufacturers which is adversely affecting the domestic heavy industry," said Patel in a written reply to the Rajya Sabha.
India imported heavy electrical equipment (excluding project import) worth Rs.7,970.81 crore, machine tools worth Rs.607.94 crore, metallurgical machinery worth Rs.609.23 crore, textile machinery worth Rs.1,969.48 crore, pumps and compressors worth Rs.2,353.24 crore and mining and construction machinery worth Rs.1,572.44 crore.
The total output of heavy industrial equipments in India was Rs.1,48,639 crore during 2010-11. The heavy industrial equipments produced in China were worth Rs.63,90,888 crore during 2009.
India's Heavy Industry Sector has witnessed a compound annual growth of 13.6 percent in the last six years.
Source : economictimes.indiatimes.com
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