3000 items- 1 lakh Crore Target- India Prepares To Jolt China
The apex body of traders union in India,
Confederation of All India Traders (CAIT) has decided to boycott Chinese goods
that are worth $13 billion or INR 1 lakh crore by December 2021. The list of
3000 items includes toys, gifts, clothes and watches, FMCG products, and
confectionery products. The body has prepared this list since these products
have good indigenous substitutes. 2 decades ago, the import of Chinese goods
was worth $2 billion which has now increased to $70 billion which is a
staggering 3500% increase in a short span of 20 years. It is evident that China
has been trying to gain control over India’s retail market. CAIT is the body
which represents more than 7 crore traders and 4,000 trader bodies from across
the country.
India registered a trade deficit in FY20 of
48.66 billion dollars. Every year we have a movement where people want to
boycott Chinese products and during festive season like Diwali people generally
tend to forget that and people become dependent on Chinese products. Every year,
the lights that we buy to decorate our homes are Chinese made. However, this
time around things seem to be different said the Praveen Khandelwal, Secretary
General, CAIT.
He said that this time around they will not be
stacking light from across the border and the light will be Indian made. We
must ensure that we don’t celebrate Chinese Diwali anymore. He further added
that the demand for Chinese products had reduced since the outbreak of the
coronavirus news and there was a change in the purchasing decisions of the
Indian consumer. Even though the Chinese products come with a low-cost
advantage, the products are low on the quality as well. The Indian consumers
today are looking for good quality products and are willing to pay a little
extra for it.
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