Indian traders hand China massive loss amid boycott of Chinese goods
CAIT reported that the trade conducted by the Indian traders on Diwali made China suffer a huge loss amidst the wave of boycotting Chinese goods.
New Delhi, 15/11: The trader’s body Conference of All India Traders(CAIT) reported on Sunday that this Diwali, it had recorded sales of Rs.72,000 crores across 20 major Indian cities. The CAIT also informed that the only products that were being sold were Indian goods and no Chinese products were on the shelves for the occasion of Diwali. As a result, it is estimated that China has suffered a staggering amount of Rs. 40,000 crores worth of loss. “As per reports gathered from 20 different cities which are also considered to be the leading distribution centers of India, it is expected that Diwali festive sales generated a turnover of about Rs 72,000 crores and gave China the expected loss of Rs 40,000 crore,” the CAIT reported.
The major cities included Bhubaneswar, Mumbai, Bengaluru, Kolkata among others. The products ranged from electronics to footwear, and other stuff. The CAIT has hoped that the boycott of Chinese goods among the citizens will continue in the future and help in boosting the sales. The CAIT has been running a campaign to boycott Chinese products ever since the Galwan valley clash between India and China took place.
