Chinese goods bycot gave China a big blow on Diwali, China lost crores - Newztezz Online


Monday, November 16, 2020

Chinese goods bycot gave China a big blow on Diwali, China lost crores

While the occasion of Deepawali brought happiness to India, this Diwali for China was nothing short of a tragedy. 
This time, the corona epidemic could not stop the bumper buying on Deepawali. While goods worth over a record 72000 crore were sold in India, China suffered more than Rs 40,000 crore due to the ban on Chinese goods used by India on this Diwali.

Merchants across the country have reliably implemented across the length and breadth of the country under the leadership of the Confederation of All India Traders (CAT) to promote the Local for Vocal Campaign of Prime Minister Shri Narendra Modi and self-reliant India. The strong sales in markets across the country during the festive season of Diwali this year indicates good business prospects in the future. According to CAIT, no Chinese goods were sold at CAT's call for boycott of Chinese goods in this year's Diwali.

According to the Navbharat Times report, “National President of the Confederation of All India Traders (CAT) B.C. Bhartia and National General Secretary Praveen Khandelwal said that according to the reports collected from 20 different cities of the country which are the major distribution centers of supply chains across the country, the Diwali festival season sales generated a turnover of around 72 thousand crores across the country and China directly incurred a trade deficit of about 40 thousand crores ”.

This is an important part of CAIT's plan to cause huge damage to China's economy through boycott of Chinese goods. When China began to show its eyes to India on the border in May, CAIT had decided that it would harm China financially that China would remember these lessons for many years.

Newztezz Post has also highlighted this subject many times. Explain that under this campaign CAIT has targeted to damage the Chinese economy by about Rs 1 lakh crore by December 2021. Its successful foundation was laid when the aim of celebrating Rakshabandhan was to celebrate the Chinese goods-free festival under the leadership of CAIT. This campaign was not only very successful, but China suffered a loss of more than Rs 4000 crore.

 According to  Sushil Kumar Jain , CAIT convenor of Delhi NCR,  Not only rakhi is imported from China but also rakhi making goods were imported from China. Due to boycott of Chinese products by CAIT , no Chinese goods will be used to make rakhi due to which China will suffer a loss of 4000 crores ”.

Along with this, CAIT has decided to launch an e-commerce portal called Bharat E-Market in December to give its campaign more edge , with the main objective of bringing online to the community of merchants and also to big players like Amazon and Flipkart. Traders have to be protected from side effects. Explain that due to the ban of TikTok and Helo, the Chinese company ByteDance has lost $ 6 billion (about 45,000 crores). According to the UN COMTRADE database, the value of total imports from China from India was around $ 68.4 billion in 2019 Now this deficit is increasing further only that since January 2020 China's exports to India have come down by 24.7 percent to $ 32.28 billion on an annual basis .

CAIT Secretary General Khandelwal believes that if the network of Indian businessmen continues to do the same, then the target of damaging the Chinese economy of Rs 1 lakh crore will be achieved long before December next year.

The way Indian businessmen are engaged in their campaign, it would not be wrong to say that India will achieve its target [economic loss of 1 lakh crores rupees to the Chinese economy] long before December 2021, because till now India has made China Overall, since June, it has caused an economic loss of about 45000 crore rupees, and now the situation for China is like a ditch if a well ahead.

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