He is wrong. By not releasing the goods, the govt is protecting the retailers. The retailers can sell other phones instead. Worst case for them is nobody may end up buying their Chinese goods.
The goods stuck at customs belong to the Chinese companies. They can only make a profit if they sell it first. But if the retailers do not get their hands on goods to sell, then it's the Chinese who are stuck. I don't think the goods are prepaid by Indian retailers.
Total miscalculation, Chinese can hurt you the same. |
Yesterday, less than 48 hours later, the Chinese responded.
The Customs authorities in Hong Kong and China, in apparently a blow-for-blow measure, have held back some consignments of Indian exports after ports in India took up the task of inspecting Chinese products, the Federation of Indian Export Organisations (FIEO) has told the government.
The FIEO on Thursday reiterated that the Customs authorities at several ports in India had ordered a sudden examination of Chinese consignments without any official word from the government, and this may have led to the Chinese retribution.
Indian exporters raise concerns of tit-for-tat measures by Chinese side, Business Standard
The FIEO, which is an Indian trade lobby, is the one feeling the pain. It’s president, Sharad Kumar Saraf, wrote a letter urging the Indian government to consider all ramifications before embarking on such inspections. He even suggested an alternative.