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Chinese goods sale to drop 30% this Diwali, says CAIT

Monday, October 17, 2016

Sale of Chinese products may decline by 30% on this Diwali compared to last year as per the market report from various states, says traders body CAIT. "As per indications available from the markets of different states, as of now there seems to be an expect decline of about 30% in consumption of Chinese products on this Diwali in comparison to last year which in itself would be a strong indication to China and other countries as far as the consumption of Chinese goods in India is concerned," the Confederation of All India Traders (CAIT) said in a statement.

According to statement, the social media has once again prove its strength as the calls to boycott Chinese products this Diwali festive season circulating on social media since last fortnight have made inroads in the houses as well prompting even children and women not to use China-made products on ensuing festive season. CAIT said that the campaign has left wholesalers and retailers across the country in a dilemma.

It clarified that boycotting of Chinese products at this stage is not going to affect China since on every season, the goods are usually imported 2-3 months before. The Chinese stocks are already piled up in the country and it will be a situation of loss to our own traders and countrymen. However, the body said that if the sentiments are so strong, the consumers have to come forward and make their intent very clear since it is a consumer driven market and as a result of which it is expected that the following season of Christmas and New Year may see a sharp fall in imports from China.

India is a big market for Chinese products and over the years import of toys, furniture, building hardware, crackers, lighting and electric fittings, furnishing fabric,office stationary, electronic appliances, consumer electronics, kitchen equipment & appliances, gift items, watches etc from China has increased to a great extent.

Chinese products are generally low in price having availability in bulk coupled with different variety is the root cause of infiltration of Chinese goods in the Indian market, it said. The body further said that beside international issues of importance,  many other incidental issues are attached to it and it has to be looked in totality and not in isolation. China is one of the major investors in India.

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