China Diwali loss Rs 50000 cr Chinese exporters CAIT | This Diwali, China will suffer a loss of 50 thousand crores, CAT expressed apprehension

Photo: PTI

This Diwali, there will be a loss of 50 thousand crores to China, CAT expressed apprehension

New Delhi: Traders’ body CAIT on Friday said its boycott call is expected to cause business losses worth Rs 50,000 crore to sugar exporters this Diwali. The Confederation of All India Traders (CAT) also expects consumers to spend around Rs 2 lakh crore during the sale period of Diwali festival.

CAIT said, “Like last year, this year also the organization has called for ‘boycott of Chinese goods’ and it is certain that stopping the import of Chinese goods by Indian traders will result in a trade loss of about Rs 50,000 crore to China. ”

CAIT Secretary General Praveen Khandelwal said that a recent survey conducted in 20 cities by the research wing of the organization has revealed that till now no orders for Diwali goods, crackers or other items have been placed by Indian traders or importers to Chinese exporters. has gone. The 20 cities covered in the survey are New Delhi, Ahmedabad, Mumbai, Nagpur, Jaipur, Lucknow, Chandigarh, Raipur, Bhubaneswar, Kolkata, Ranchi, Guwahati, Patna, Chennai, Bengaluru, Hyderabad, Madurai, Puducherry, Bhopal and Jammu.

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