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.

No comments