Exclusive: Survey claims 60% decline in sales of Chinese goods this Diwali in India
Exclusive: Survey claims a 60% decline in sales of Chinese goods this Diwali in India
From the past few years, China has enormously grown to be the second-biggest trading partner of India. We often do trade with china from mobile phones to kids play toys, almost all the products we make a trade with China.
This trading has affected lots of local products from the past few years. Recently, the trade between both India and China has touched a whopping $90 billion in the year financial year ending 2018.
This shows a clear picture of how dominant the Chinese products are in India markets. Because of this, lots of local manufacturing units went into massive losses. So, to avoid these, Indians and traders have come together to boycott Chinese products to help local traders live.
All the traders have formed a Confederation of All India Traders and launched a national campaign to boycott Chinese goods in the march 2019.
This Confederation of All India Traders (CAIT) has 70 million traders on this unit. It has claimed that there is a 60% decline in sales of all the Chinese Good this Diwali as compared to the previous years.
According to the CAIT Research & Trade Development Society, CAIT has surveyed 21 Indian cities to measure the value of Chinese goods sold this Diwali. In this research, it has stated that ” Chinese goods sold this Diwali has been enormously reduced more than twice, i.e. from Rs8000 crore last year sale to Rs 3200 crore sales this year.
This sharp drop was mainly seen in Chinese items including electrical, gadgets, fancy lights, kitchenware, plastic items, home decoration goods, toys, idols of Indian gods, wall hangings, lamps, footwear, garments, apparels, home furnishing items and more.
The CAIT survey was conducted during the last week of October in different cities. It had collected responses from all the traders in 2 cities including the large metro cities such as Delhi, Mumbai, Chennai, Hyderabad, Bangaluru, Coimbatore, Bhuvaneshware and more to estimate the demand for all the Chinese products.
As per the Secretary-General Praveen Khandelwal, The Attitude and mindset of all the consumers are changing day by day. They have understood the importance of local goods. Along with that local good has the guarantee where else Chinese goods have no warranty at all.
All the Indian traders have been advised well in advance that is in the month of July itself to boycott all the Chinese products on Diwali.
That’s the reason why the visibility of Chinese product was minimal during Diwali.
This sharp fall in the sales of Chinese products and goods appears an excellent sign of the Indian economy. Mainly it will be a massive boost for local manufacturers. Presently e-commerce and offline retail companies are largely dependent on China for sourcing, but this will soon change.
All the manufacturers and consumers are welcoming protest by CAIT and others. So, we need to support MSMEs and other manufacturing units to boost the local production at a much better price to dominate the cost of production. If we follow all the aspects perfects, then in no time we can clam china in trading and other aspects as well.