“The Confederation of All India Traders(CAIT) has boycotted Chinese goods this year, as it did last year, and it is certain that China would suffer a financial loss of around 50,000 crores as a result of Indian traders’ refusal to buy Chinese goods,” CAIT said in a statement on Friday.
The fact that Indians are banning crackers and other low-cost celebratory items from China this festive season means more earnings for India’s domestic industry. The traders’ group said in a statement on Friday that India’s domestic sales are projected to increase significantly this Diwali due to an increase in the number of customers in markets throughout the country ahead of the festive season. Consumer spending during Diwali sales might bring in a total of Rs 2 lakh crore to the Indian economy.
Another significant difference lately seen is that consumers in large cities around the country do not appear to be very interested in purchasing Chinese goods, which is expected to raise demand for Indian items instead. According to a recent poll done by CAIT’s research arm in 20 ‘distribution cities,’ no orders for Diwali goods, firecrackers, or other things have been placed with Chinese exporters by Indian dealers or importers.
New Delhi, Ahmedabad, Mumbai, Nagpur, Jaipur, Lucknow, Chandigarh, Raipur, Bhubaneswar, Kolkata, Ranchi, Guwahati, Patna, Chennai, Bengaluru, Hyderabad, Madurai, Pondicherry, Bhopal, Chennai, Bengaluru, Hyderabad, Madurai, Pondicherry, Bhopal and Jammu are in the list.
CAIT announced earlier this year that it has chosen to aggressively step up its statewide campaign to boycott Chinese goods in response to China’s “military aggression” along the Line of Actual Control (LAC) in Ladakh, which resulted in the death of three Indian soldiers.
“The CAIT firmly condemns China’s military action in Ladakh across the Line of Control, which resulted in the death of three Indian soldiers. “In light of the ongoing border conflicts with China, the CAIT has decided to intensify its statewide campaign against the boycott of Chinese goods, which began on June 10 under the banner of ‘Bhartiya Samaan-Hamara Abhimaan,'” stated CAIT general secretary Praveen Khandelwal.