JSW Cement Managing Director Parth Jindal on Thursday said its family-owned Group will bring down $ 400 million worth of imports from China to zero in the next 24 months.
Referring to the recent clash between Indian and Chinese troops in the Galwan Valley, he said the “action” is a result of what the latter did on Indian soil.
The $ 14-billion JSW Group, owned by Mr. Parth’s father Sajjan Jindal, has presence in core sectors of steel, energy, cement and infrastructure.
The group will boycott goods worth $ 400 million, which it imports from China annually, Mr. Parth said in a tweet.
The unprovoked attack by the Chinese on Indian soil on our brave jawaans has been a huge wake up call and a clarion call for action — we @TheJSWGroup have a net import of $ 400 mn from China annually and we pledge to bring this down to zero in the next 24 months #BoycottChina, he said.
A company official estimated 70-80% of imports take place for the company’s steel and energy business which includes machinery and maintenance equipment.
The Indian and Chinese armies are locked in a bitter stand-off at multiple locations in the eastern Ladakh for the past seven weeks, and the tension escalated manifold after 20 Indian soldiers were killed in a violent clash in Galwan Valley on June 15. The Chinese side also suffered casualties but it is yet to give out the details.
You have reached your limit for free articles this month.
Subscription Benefits Include
Today's Paper
Find mobile-friendly version of articles from the day's newspaper in one easy-to-read list.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Personalised recommendations
A select list of articles that match your interests and tastes.
Faster pages
Move smoothly between articles as our pages load instantly.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Briefing
We brief you on the latest and most important developments, three times a day.
Not convinced? Know why you should pay for news.
*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.
A letter from the Editor
Dear subscriber,
Thank you!
Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.
The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.
We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.
Suresh Nambath
