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CHINESE GOODS SALES DIP TO 60% IN DIWALI FESTIVITY

Though the traders across Country termed just concluded Diwali festivity as most worst than ever in last 20 years but certainly, this festival season has given a big jolt to China.

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Chinese goods which are generally sold in huge quantity during Diwali festival has registered a decline of about 60% sales this year in comparison to earlier years which gives an alarming signal to China who consider India as the largest market for its products over the globe and making all efforts to dominate Indian retail market for its products-said the Confederation of All India Traders (CAIT) today after having a survey in 21 cities of the Country during Diwali festival season related to sales of Chinese goods.

 

According to an estimate, the value of Chinese goods sold in 2018 during Diwali was around Rs 8000 crore of rupees whereas this year Diwali festival the Chinese goods were estimated to be sold to the value of Rs. 3200 crore only. CAIT Secretary General Mr. Praveen Khandelwal said that it is a significant change in the goods purchasing pattern of Indian traders and reflects intention behaviour of Indian consumers. The CAIT last year gave a call of Boycott Chinese products which saw a decline of about 30% sale of Chinese goods. ” This year we advised traders and importers across Country well in advance in the month of July itself to boycott Chinese products on Diwali festival and as a result the importers resist themselves in importing goods from China and so also the traders decided to procure indigenous goods which resulted into very less visibility of Chinese products this Diwali”-added Mr. Khandelwal

 

As per CAIT survey, the major decline in sales was registered in different items like Gift items, electrical gadgets, fancy lights, kitchenware and appliances, plastic items, Indian Gods & Idols, home decoration goods, toys, electronic items, wall hangings, lamps, home furnishing items, footwear, garments and fashion apparels etc. During the survey about 85% traders agreed that they have witnessed a decline of sale of Chinese products during this Diwali festival. Rest of the 15% traders were of the view that Chinese goods still have a market in India.

 

The survey conducted during the period between 24th October to 29th October by CAIT Research & Trade Development Society, the research arm of the CAIT, mapped responses of traders in cities of Delhi, Mumbai, Chennai, Bangluru, Hyderabad, Raipur, Nagpur, Pune, Bhopal, Jaipur, Lucknow, Kanpur, Ahemadabad, Ranchi, Dehradun, Jammu, Coimbatore, Bhuvneshwar, Kolkata, Pondicherry and Tinsukia to estimate the demand for Chinese products across India.

 

Mr. Khandelwal said that over the years after using Chinese goods, the consumers now understand that Chinese goods though may be cheaper have no longer life and therefore does not carry a guarantee. These products are generally of use & throw nature whereas the Indian products though costly are good in quality and contain a guarantee and in event of any fault can be replaced by the traders. They are now derived by the dictum ” Sasta Roye Baar Baar-Menga Roye Ek Baar” ( Cheap products always have complaints- Costly products are primarily faultless) The consumer now wants full value of their spending and therefore is shifted again towards Indian products which is a healthy sign of retail trade & economy of the Country.

 

There seems to be a decline of about 60 per cent in consumption of Chinese products on this Diwali in comparison to last year.As per the findings, this Diwali, consumer preferred Indian products over Chinese goods. On the contrary to last years, this year Indian products right from Earthen Lamp (Diya) to fancy lights, green crackers, Gods & idols made from clay, brass and silver, kitchen appliances etc. were largely available in the market in abundant quantity. The attitude and mindset of the consumer was equally better to opt for Indian products in comparison to Chinese items.Mr. Khandelwal while elaborating the reason of boycott Chinese goods said that whenever there is an issue with Pakistan, the China has always taken the side of Pakistan which has irked the traders and therefore the CAIT was compelled to launch campaign of boycott Chinese products which has shown results this year. The trade gap between India & China is quite alarming and has become another reason for the traders to give prominence to Indian goods in place of Chinese goods.A support policy of the Government will enable domestic small manufacturers to produce quality goods at a competitive rates and thereby reducing dependency on China for goods which do not require any high technology.

 

We fear that if RCEP is signed, there could be imposition of less duty on Chinese goods which will be detrimental to national economy and retail trade of the Country. However, we feel assured with the statement of Mr. Piyush Goyal, Union Commerce Minister that interests of domestic trade and industry will be on priority of the Government while signing any such agreement. as Indians are likely to prefer domestic products like earthen diyas (lamps), according to a report.

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