Demand for goods made in China has declined 45 per cent this Diwali, with retailers refraining from keeping more stocks after the boycott call on social media platforms went viral, traders' body CAIT said today.
"Boycott Chinese goods on Diwali festival campaign on social media has greatly impacted sale of Chinese goods this Diwali festive season as there is about 45 percent decline in demand by retailers from wholesalers this year," Confederation of All India Traders (CAIT) said.
CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said that the campaign "has led to a decline of about 45 per cent in demand of Chinese goods in comparison to last year".
"The penetration of the campaign can be understood with the fact that beyond markets it has travelled to houses and has become a talking point among women and children who are considered as main shoppers during any festive season and this has led to decline in demand of Chinese goods," CAIT said.
Chinese products like crackers, electric bulbs, kitchen appliances, toys, gift items, electric fittings, electronic products, consumables, home decoration items, among others will have to bear the brunt of the decline in demand.
The campaign has also given a new life to traditional potters, who have developed large number of artistic and innovative earthen products hoping to get good share in market as a replacement of Chinese bulbs and decorative products, it said.
CAIT said that although the boycott campaign will largely affect Indian traders and importers since Chinese goods have already been imported by them 2-3 months earlier, if social media campaign continues, China has to suffer huge trade losses in the forthcoming Christmas and New Year shopping festivals.
It said the need of the hour is to develop viable competitive products to discourage sale of Chinese goods in India, with government planning a long term strategy by providing all out support to the domestic small manufacturing sector to produce quality goods at cheaper prices, it said.
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