JSW Group to boycott USD 400 million worth imports from China: MD Parth Jindal


PTI, Jul 4, 2020, 3:41 PM IST

New Delhi: JSW Cement Managing Director Parth Jindal on Thursday said its family-owned Group will bring down USD 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 USD 14-billion JSW Group, owned by Parth’s father Sajjan Jindal, has a presence in core sectors of steel, energy, cement and infrastructure.

The group will boycott goods worth USD 400 million, which it imports from China annually, 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 USD 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 per cent 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.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Major fire erupts at shopping mall in Mumbai’s Oshiwara area

MotoGP: India’s distorted map broadcast live; J-K, Ladakh missing

Notify time-bound process for approval of licence plate manufacturers: Karnataka HC to State govt

Cauvery protests: Security stepped up in Bengaluru, particularly in Tamil dominant areas

Former Karnataka Minister gets to keep G-Category site allotted in 2006

Sanatan Dharma remark: SC issues notice on plea seeking FIR against TN minister Udhayanidhi Stalin

JD(S) chief Deve Gowda expresses displeasure over Karnataka govt’s handling of Cauvery issue

Related Articles More

Major fire erupts at shopping mall in Mumbai’s Oshiwara area

NIA files charge sheet against 13 people in killing of political functionary in Puducherry

Stable govt with strong majority made passage of women’s bill in Parliament possible: PM Modi

India-Canada row: Cong calls for ‘intensive diplomatic engagement’ to resolve crisis

Rain continues in many parts of Kerala; IMD issues ‘yellow alert’

MUST WATCH

Assembly Speaker UT Khader visits Krishnadham, Mysore

Steel Ganapa bloomed in the sands of Odisha

Why Ganesha has many hands?

Eco Friendly Ganesha Idol

ganesha clay model made by children


Latest Additions

Major fire erupts at shopping mall in Mumbai’s Oshiwara area

B’luru techie from Srinagar held for ‘forcing’ live-in partner to convert, engaging in ‘unnatural sexual acts’

NIA files charge sheet against 13 people in killing of political functionary in Puducherry

MotoGP: India’s distorted map broadcast live; J-K, Ladakh missing

Stable govt with strong majority made passage of women’s bill in Parliament possible: PM Modi

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.