Silver will be of domestic industry this festive season, China will get a shock of 75 thousand crores

Every year during the period from August to December, Indian traders and exporters import goods worth about 80 thousand rupees from China. However, this time the entire inclination of the businessmen to the customers is on domestic products.

Silver will be of domestic industry this festive season

Image Credit source: Twitter

This comes in the midst of increasing acceptance of the goods being manufactured by the domestic industry among the customers along with the continuing boycott of Chinese goods. festive season Going to be special for domestic producers. It is a sign that this time in the festive season, customers can not only buy a lot, but in the changing conditions, Indian customers can also give a huge blow to Chinese companies. Due to the good business and purchase of Indian products in the Ganesh festival which started from 31st August, traders are hopeful that by Diwali this year, the festive sales in the country can be up to Rs 1 lakh crore. On the other hand, Chinese companies may have to suffer a business loss of 75 thousand crore rupees in India this year.

Rs 2.5 lakh crore flow possible in festive season

After the Confederation of All India Traders (CAT) once again launched a nationwide campaign to boycott Chinese goods from August 31, this year also the trade of importing goods from China to India through the purchase of everyday items and festivals. There is bound to be a big blow to the business of about 75 thousand crore rupees. CAIT expects that during the sale period of Diwali festival from now onwards, there could be an inflow of capital of about Rs 2.5 lakh crore into the economy due to purchase of various items other than Diwali and other festival related items by consumers. Is.

One effect of the continuous boycott campaign of Chinese goods across the country from the year 2020 by CAIT is that while a large number of Indian traders and importers have stopped ordering goods from China, another important change is that consumers Even Chinese are not taking interest in buying goods, due to which the demand for Indian goods is bound to increase. This trend makes it clear that craftsmen, pottery makers and small entrepreneurs are likely to get big business in this festive season. Looking at the trend, traders across the country have started making adequate arrangements of Indian goods in their establishments to meet the demand.

CAT’s National General Secretary Shri Praveen Khandelwal said that in a recent survey conducted by CAT Research and Trade Development Society, the research arm of CAT, in 20 cities of different states, which have been given the status of “Distribution Cities” by CAT. It has come to the fore that no orders for Diwali goods, firecrackers or other similar items have been placed in China by Indian traders or importers so far this year. Every year during the five-month festive season from Rakhi to New Year’s, Indian traders and exporters import goods of general necessity worth about 80 thousand rupees from China.

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Increased demand for Indian products

Mr. Bhartia and Mr. Khandelwal informed that major retail sectors like FMCG Goods, Consumer Durables, Toys, Consumer Electronics, Electrical Appliances & Accessories, Kitchen Goods & Accessories, Gift Items, Personal Consumables, Confectionery Items, Home Furnishing, Tapestry, Utensils, Builders Hardware, Footwear, Watches, Furniture & Fixtures, Textiles, Fashion Apparel, Textiles, Home Decor Items, Diwali Puja Items including Earthen Diyas, Deities, Wall Hangings, Handicraft Items, Textiles, Auspicious Symbols of good luck like Om, various forms of Goddess Lakshmi and other deities for home decoration, decorative items etc. are the major areas where traders instead of Chinese goods have been able to stock Indian goods in sufficient quantity according to the demands of the consumer. have started efforts

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