Consumers in India are slowly being made aware of the boycott of Chinese goods during the ongoing Diwali season. Under such circumstances, China on October 28, 2016 has warned that any such move to boycott the Chinese goods would result in a negative impact on the India-bound investments from its enterprises and also its bilateral cooperation between the two countries.
The country has also asserted that such a boycott will not affect its exports but, “without proper substitutes, the biggest losers of the boycott of Chinese goods will be Indian traders and consumers”. A statement was issued by the Chinese Embassy that said that China is the world’s largest trading nation in goods and the exports in 2015 came to a figure $2276.5 billion. The statement added that the exports to India accounted to just 2 percent of the total China exports and the boycott in India of the Chinese goods will not have much impact on the exports.
On the other hand China is more concerned that the boycott will have a negative impact on the Chinese enterprises to invest in India. Tensions are increasing in terms of relations between India and Pakistan and the social media platforms have been sending out messages to boycott Chinese goods to show protest against China’s support to Pakistan. The Confederation of All India Traders , which is the Apex traders body said that the sale of Chinese products is expected to fall by 30 percent this Diwali. Since many years, India has been a huge market for the Chinese products.
The Chinese products are generally low priced which was the main cause of popularity of the Chinese goods in the country. The Chinese embassy in the statement mentioned that the Sadar Bazaar has complained about the fall in sale of Chinese goods by 20%.
Photo Credits: indiaspend