China’s heavy loss on Diwali, Dragon suffered loss of thousands of crores

New Delhi: As a result of the boycott campaigns by the government and the people of India against China, Dragon has suffered a setback like last Diwali this time too. Even before this Diwali, Indians have bankrupted China.

According to an estimate, Dragon has suffered a loss of around Rs 50,000 crore due to the boycott of Chinese goods by Indians. The Confederation of All India Traders (CAT) says that the boycott of Chinese goods is expected to cause a loss of about Rs 50 thousand crore in China’s trade this festive season, while the Indian economy will suffer a loss of Rs 2 lakh crore due to increased domestic demand. There will be speed.

Indians took out China’s Diwali
“Given the current Diwali festive season and the growing number of customers in markets across the country, the business community is expecting big business,” Kate said in a statement issued here today. Capital of about Rs 2 lakh crore can come into the economy. Kate said that like last year, this year too, Kate has called for a boycott of Chinese goods and the country’s traders and importers have stopped importing from China, causing a trade deficit of Rs 50,000 crore to China this Diwali. is estimated to be. Another significant change is that since last year, consumers are also shying away from buying Chinese goods, which is likely to increase demand for Indian goods.

20 cities did not order China
CAT National President B.C. Indian said a recent survey conducted in 20 cities across several states by CAT Research and Trade Development Society, the research arm of CAT, found that so far this year, many Indian traders or importers have been selling firecrackers or other goods to China on Diwali. The order has not been placed and this year Diwali will be celebrated as purely Indian Diwali.

which are these 20 cities
The 20 cities that have not placed orders to China are New Delhi, Ahmedabad, Mumbai, Nagpur, Jaipur, Lucknow, Chandigarh, Raipur, Bhubaneswar, Kolkata, Ranchi, Guwahati, Patna, Chennai, Bengaluru, Hyderabad, Madurai, Pondicherry, Bhopal and Jammu.

Dragon in trouble
Every year during the five-month festive season from Rakhi to New Year, Indian traders and exporters import goods worth about Rs 70,000 crore from China. The Indian said that China has suffered a loss of about Rs 5,000 crore during Rakhi festival this year and Rs 500 crore on Ganesh Chaturthi and the same trend is being seen on Diwali. Traders are not the only boycotters. Not only Chinese goods, consumers are also not ready to buy products made in China.

(with agency inputs)