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After China's nefarious act in Galwan Valley, India has also given it a shock. The Indian government has now reduced issuing visas to Chinese citizens. According to information received from top officials and figures, the Modi government is focusing on economic security.
Let us tell you that in the clash between Indian and Chinese soldiers in Galwan, 20 soldiers including Indian Army Colonel Santosh Babu were martyred, while many Chinese soldiers were also killed. According to senior officials, in 2019, India gave Indian visas to about two lakh Chinese citizens. However, after the Galwan violence on 15 June 2020, India has reduced the issuance of visas. In 2024, this figure has come down to just 2,000. This has been done to reduce Chinese investment in India. During the last eight months, the Indian government has issued visas to only 1,500 Chinese citizens. Of these, 1,000 people are those who have come on the demand of the Indian electronics industry while the other 1,000 visas are still in process.
Trade with China also declined
India's trade with China has also seen a sharp decline. The trade deficit between the two countries stood at $38.11 billion in the first five months. India has exported only $8.93 billion to China this year. Whereas between January and May 2024, India has imported $47 billion from China. Apart from this, the government is encouraging many sectors for production by cutting corporate tax. At the same time, there were also reports that Chinese businessmen are going to work in the electronics industry in India due to not getting visa. According to the data released on June 14, India's merchandise exports grew by 9 percent in May. India has exported $29.12 billion in the electronics sector alone.
Screening of Chinese investors intensified
After the Galwan Valley incident, India has also intensified the screening of Chinese investors. Due to which companies like Vivo have suffered a major setback. This company is violating Indian laws. The company was doing money laundering. After the ED action, the company said that we are scared after the action of the system. The recent arrests show that the environment here is not good for us. We are taking legal recourse to deal with these challenges. India's focus is now on issuing visas to Chinese citizens only after proper investigation. Giving unlimited visas will hinder India's goal of self-reliant India.
The border dispute between the two countries still persists
There is a border dispute going on between India and China. Even after several rounds of talks, no solution has been found to the LAC dispute. There is also tension with China in the sea. China has launched the Young Wang 7 ballistic missile tracker ship 1 thousand km away from Kanyakumari. China's Jinping government is trying to put pressure on India both on land and sea. On the other hand, India is insisting on reducing dependence on China on the economic front.