Ban On Chinese Diwali Products Has Cost China Rs 40,000 Cr: CAIT

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Pune, November 7, 2020: The Confederation of All India Traders (CAIT) has stated that China has most likely incurred a loss of about Rs 40,000 crore between August to October this year, as the Indian traders have boycotted Chinese small and medium-sized products which are usually imported for Diwali.

The organisation has now developed an online portal of merchant manufacturers in India to promote ‘Swadeshi’ products, stated Lalit Gandhi of CAIT. There are seven crore traders in India and CAIT is the apex body of four lakh associations of traders, cottage industries and small scale industries. Rajendra Bathia, Dilip Kumbhojkar, Pushpa Kataria, Sanjay Phadtare, Sachin Nivangune, Raikumar Nahar, Suryakant Pathak among others were present on this occasion.

“Last year, the country had imported Chinese goods worth Rs 90,000 crore. This year, the import has been low at Rs 48,000 crore, the organisation has also made efforts to reduce this import further. Moreover, because of the spread of Coronavirus Disease (COVID-19), import of Chinese goods had reduced,” said Gandhi.

The CAIT in collaboration with the Ministry of Commerce has developed a portal called ‘Bharat-e-Market’ to enable small traders to access e-commerce. The portal will be operational in December. One crore traders will be registered in the first phase, stated the officials.