Diversify India’s import sources, fortify manufacturing: EY expert

India needs to diversify import sources while strengthening domestic manufacturing, according to D K Srivastava, chief policy advisor of EY India.As India’s non-oil imports, which accounted for 77.6 per cent of merchandise imports in FY26, remain heavily concentrated in China, there is a need for both source diversification and a targeted import substitution strategy, he said.