'China's key to global manufacturing,' says Sanyal on economic ties
Sanjeev Sanyal, economic adviser to PM Modi, just opened up about India's tricky economic relationship with China at a recent NDTV Profit event.
He admitted there's a big trade gap but pointed out that Indian industries still rely heavily on Chinese materials.
He also mentioned that rules like Press Note 3—meant to keep foreign takeovers in check—are still shaping how India handles investments from neighboring countries.
Complete independence from China isn't realistic, says Sanyal
Sanyal emphasized that China is a major player in global manufacturing, and India can't simply cut ties if it wants its own industries to grow.
For sectors like pharmaceuticals, Chinese raw materials are essential, so complete independence isn't realistic right now.
While he agreed it's important to protect key sectors, Sanyal suggested that normalizing economic ties with China could actually help India's long-term goals—even as border tensions and trade issues continue.