Chinese goods worth Rs 3,200 crore were sold in the run up to Diwali in India this year, said Confederation of All India Traders on Thursday
New Delhi: The sale of Chinese goods witnessed a major drop during Diwali this year. However, Indians still purchased Chinese goods worth up to Rs 3,200 crore this year, while last year it was worth Rs 8000 crore imports from China, said CAIT.
This festive season has delivered a big blow to China. Their items may be cheaper, but they do not have a long life and therefore do not come with guarantee, said CAIT.
With a decline in Chinese items, there has been a spike in the sales of indigenous products which led to procurement of items from local manufacturers.
About 85% of traders agreed that they witnessed a decline in sales of Chinese products during Diwali festival whereas the remaining 15% traders were carrying the perception that they still have a market India, said CAIT.
The trade gap between India and China is alarming and has become an reason for the traders to give prominence to Indian goods in place of Chinese goods.
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Last Updated 1, Nov 2019, 11:43 AM