China killing Indian manufacturing sector: L&T

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China killing Indian manufacturing sector: L&T
Surat, Jan 11: India's engineering major Larsen & Toubro has said that China is systematically killing Indian manufacturing sector.

Speaking to reporters on Sunday, Jan 10, L&T chief Naik said, "China has a fixed currency. It is not a market economy like ours. China is systematically killing the Indian manufacturing sector."

Naik also sought 25 per cent anti-dumping duty on Chinese goods.

"There are taxes on goods manufactured locally, but none on imported products (from China). This is an unfair situation for Indian goods. This is why there should be 25 per cent anti-dumping duty on Chinese products," Naik said.

Naik said, "The Indian power companies, especially those in the private sector, have placed huge orders for power plant equipment with China. We can say that Chinese power sector is virtually working for India."

"It is not good that 80 per cent of our dependence for power plant equipment is on one country, and that too China," he said.

"China should not be allowed to grow at the cost of Indian companies," he added.

OneIndia News

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