India seeks to suspend imports of power equipment from China

India seeks to suspend imports of power equipment from China

As the tense border situation between China and India is undermining, Indian Energy Minister Raj Kumar Singh said that India will stop importing power equipment from China.

Singh said in a meeting with energy officials from various states that India is capable of manufacturing various types of electrical equipment and encourages officials to promote local procurement. He said that as of March 2019, India’s non-renewable energy power projects imported 710 billion Indian rupees (about 72.8 billion Hong Kong dollars) of equipment, and China’s imports accounted for 210 billion Indian rupees (about 21.5 billion Hong Kong dollars).

After Singh made the above remarks, the stock price of Bharat Heavy Electricals, the state-owned company, India’s largest power equipment manufacturer, once soared 5.3%.

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