Indian steelmaker JSW has joined the list of Indian companies who plan to cut import dependence on China under the government ‘Atmanirbhar Bharat’ campaign, according to a tweet by Sajjan Jindal, managing director of JSW Group of companies.
In the wake of the ongoing border tensions, the company aims to bring down its imports from China to zero in the next two years. At present, the company has an annual net import of $400mn from China, per a tweet by Parth Jindal, managing director of JSW Cement. For instance, the company imported its refractories from China, which now would come from Turkey and Brazil.
Additionally, the Indian auto sector is also encouraging self-sufficiency by reducing dependence on imports of auto parts from China.
The Indian Railways has also terminated a contract with a Chinese company for signalling and telecommunication work on the 417-km long Eastern Dedicated Freight Corridor between Kanpur and Mughalsarai, cited by media reports.