Boycott Chinese Goods Call Of Cait To Dent China With A Trade Loss Of 50 Thousand Crores During Festive Season
The traders across the Country are facing their worst nightmare due to heavy money crunch because of covid pandemic and the simultaneous pressure of meeting social and financial obligations in the wake of Diwali festivity. However, the commercial markets across the Country have begun witnessing a rise in footfall and as such the retail trade is expecting a huge business from the current diwali festive season. The Confederation of All India Traders (CAIT) while expecting that festival season may bring a fresh infusion of about 2 lakh crores by way of spending by consumers during the Diwali festival sale period. The CAIT said that like previous year, this year too the CAIT has given a call of ‘boycott chinese goods’ and it is certain that China is going to suffer a business loss of about 50 thousand crores of rupees in terms of stoppage of import of chinese goods by Indian traders and exporters. Another significant change is that from last year, the Consumers are also not interested in purchasing Chinese goods.
CAIT National President Mr. B.C.Bhartia & Secretary General Mr. Praveen Khandelwal said that at a recent survey conducted by CAIT Research & Trade Development Society, a research arm of CAIT, in 20 Cities of different States which CAIT term as ‘ distribution cities”, so far no order of diwali goods, firecrackers or other like items have been placed with China by Indian traders or importers and this years Diwali will be purely celebrated as ” Hindustani Diwali”. These 20 cities are New Delhi, Ahmedabad, Mumbai, Nagpur, Jaipur, Lucknow, Chandigarh, Raipur, Bhuvneshwar, Kolkata, Ranchi, Guwahati, Patna, Chennai, Bangluru, Hyderabad, Madurai, Pondicherry, Bhopal and Jammu. Every year, during the 5 months festive season which begins from Rakhi to New Year, the Indian traders and exporters import goods worth Rs. 70 thousand from China. The CAIT’s call for boycott of Chinese goods is going to be a big jolt to Chinese trade and to fill the gap, the traders across the Country have a substantial stock of Indian goods with them to meet the requirements of the consumers.
Mr. Bhartia and Mr. Khandelwal said that during the rakhi festival this year, the China suffered a huge loss of around 5000 crores and in the ganesh chaturthi the loss was 500 crores and the same trend is expected to be seen in diwali when the demands will be met by the india made goods. This clearly indicates that it’s not only the traders who are boycotting the chinese goods but the consumers are also not willing to buy china made products. It’s a strong and concrete contribution of business community towards ” Make in India” and “Atmnirbhar Bharat” vision of Prime Minister Shri Narendra Modi.
Prominent retail verticals like FMCG goods, Consumer durables, Toys, Consumer Electronics, Electrical Appliances and goods, Kitchen articles and accessories, gift items,personal consumables, confectionary items, home furnishing, tapestry,utensils,builders hardware, footwear, watches, furniture and fixtures, garments, fashion apparels, cloth, home decoration goods, Diwali pooja goods including clay Diyas,Deity’s, wall hangings,handicraft items, textiles, good fortune symbols like Shubh-Laabh, Om, feats of Goddess Lakshmi for home decor, decorative articles, etc are the core sectors where Chinese goods have been replaced by Indian goods.