The tensions at the border with China are spilling over to business and investments across the country. According to sources, the Department for Promotion of Industry and Internal Trade (DPIIT) has prepared a list of low quality and cheap imports from China. The list includes hair and cosmetic products, toys, watches among other items.

Meanwhile, in a veiled reference to China, Commerce Minister Piyush Goyal said that a lot of sub-standard imports are coming into the country. Speaking at a virtual CII event, the minister said we need to bring back quality culture in the country and stop buying sub-standard products.

In fact, Goyal went on to say that it is sensible to buy Indian products even if they are costlier. He warned that India will see more dumping of low-priced products if we don't buy domestic products. The government has also discussed additional security measures on Chinese investments with regulators RBI and Sebi.

Maharashtra government has also put on hold three projects signed with Chinese companies worth Rs 5,000 crore. These were signed at the state's annual investment conclave "The Magnetic Maharashtra Summit".

Meanwhile, security arrangements have been beefed up outside Chinese handset maker Oppo and Vivo’s Greater Noida factory. This after protests by right-wing groups outside Oppo’s premises on Saturday. The demonstrations, led by the Hindu Rashtra Dal and the Bhartiya Kisan Union called for a boycott of Chinese products in the wake of the violent face-off at the Galwan Valley. The police has already registered an FIR against 32 protesters. The company however has not yet commented on the incident.

While social media campaigns are urging people to boycott Chinese goods, economists and electronics manufacturers say that abruptly snapping trade ties with China is not the solution. India needs to systematically plan alternate sources of raw materials and intermediate goods, particularly for its electronics sector.

To take the discussion forward, CNBC-TV18’s Shereen Bhan spoke to Former Telecom Secretary R Chandrashekhar, Former DIPP Secretary Saurabh Chandra, and Former Indian Ambassador to WTO Jayant Dasgupta.