: Traders' body gear up to give big blow of Rs 40k crore to Chinese companies this diwali #FinanceIndia #StockMarketNEWS Traders' body gear up to give big blow of Rs 40k crore to Chinese companies

@StockMarketNEWS Wed 21 Oct, 2020

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Traders' body gear up to give big blow of Rs 40k crore to Chinese companies this diwali #FinanceIndia #StockMarketNEWS
Traders' body gear up to give big blow of Rs 40k crore to Chinese companies this diwali New Delhi, Oct 19 (KNN) Traders community has geared up to give a big blow to Chinese companies of about Rs 40 thousand crore of business by boycotting the sale of goods from China in the upcoming festivals.

In a statement issued by traders’ body Confederation of All India Traders (CAIT), on Monday, National President BC Bhartia and Secretary General Praveen Khandelwal said that out of around Rs 70,000 crore business done in India every year during the Diwali season by traders, goods worth around Rs 40,000 crore were imported from China in the past years.

“But because of the brutal massacre by China killing 20 Indian soldiers mercilessly, there is great anger and resentment towards China in the people of the country which has prompted the people not to buy Chinese goods,” they said.

According to CAIT, the traders are preparing themselves with sufficient stocks of goods. Particularly mobile, electronics, electrical goods, toys, home furnishings, kitchen accessories, gift items, watches, readymade garments, footwear, cosmetics, beauty products, furniture, FMCG products, consumer durables, stationery, Diwali puja and decorative articles for the home, shop, and offices, etc. are likely to be sold in large quantities.

The traders body has also urged small scale industries along with local artisans, and craftsmen through its state-level chapters to prepare goods related to Diwali. These sellers would be encouraged to sell their goods in the markets through trade organizations spread across India.

Apart from this, CAIT will also help unemployed persons to set up stalls of Diwali products in markets across the Country to sell the products.

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