In a media query related to Chinese foreign minister Wang Yi’s visit to India, external affairs spokesperson Arindam Bagchi says that “I don’t have any information to share on this at this moment.”
This will be the first high profile ministerial visit since the Galwan clash in 2020. The Chinese foreign minister’s visit to India is an attempt by him to reset the ties after the failed misadventure in Galwan by the People’s Liberation Army (PLA). The main objective of his visit will be secure Xi’s visit to India.
Clash and Trade cannot go together
Foreign Minister, S Jaishankar in February at the Munich Security Conference (MSC) said that the relations with China are going through a very difficult phase. He further added that “ The state of the border will determine the state of the relationship.”
The continuous ban on Chinese apps and the exclusion of Chinese company Huawei from the 5G trial was a signal of a strong reaction from India. After the clash, it was reported that Chinese exports to India were down by 25% and trade by 19%.
Breaking China’s Economic Monopoly
India’s push to ‘Aatmanirbhar Bharat’ Abhiyan has created a strong appeal to Indian business to substitute the Chinese goods with Indian ones. The government’s business-friendly reforms like the Insolvency & Bankruptcy Code, Decriminalization of many clauses in the Company Act and FDI easement are way forward in this direction.
The Economic Survey 2021-22 states, the total Merchandise Trade Deficit with China is about USD 43.4 billion. To find out the alternative of Chinese merchandise is very essential for India to reduce the deficit. To create a business-friendly environment India needs to create a strong financial support system for MSMEs. Because most of the merchandise goods are manufactured by these enterprises. Moreover, by the ‘Chinese Virus,’ they have been hit most.
“Bear” the Bully
The primitive mindset of China continues to expand its territory. It has border disputes with almost all countries in South Asia and South-East Asia. China has even refused to follow the verdict of UNCLOS on the South China Sea.
Chinese President Xi Jinping in his speech in 2012 talked about the “the China Dream” of the great rejuvenation of the Chinese. The effort of the dream is to the restoration of its greatness under Communist Party rule through strong military power.
The continuous misadventure in its neighbouring countries can be seen in the backdrop of its so-called China Dream.
But India’s strong position in the Himalayan has given them a taste of their own medicine.On economically as well as militarily on both the front, India has maintained its position to strongly counter the bully.
After the Galwan clash, this visit of the Chinese foreign minister may not be materialised for reset of ties until and unless the LAC positions are not back to the status quo.