Boycott call impact! Chinese exporters to suffer business losses worth Rs 50,000 crore this Diwali - What CAIT said
Trader's body CAIT on Friday said it estimates Chinese exporters to suffer business losses worth Rs 50,000 crore this Diwali season due to its boycott call.
Trader's body CAIT on Friday said it estimates Chinese exporters to suffer business losses worth Rs 50,000 crore this Diwali season due to its boycott call.
The Confederation of All India Traders (CAIT) also expects that consumers may spend about Rs 2 lakh crore during the Diwali festival sale period.
See Zee Business Live TV Streaming Below:
"Like previous year, this year too CAIT has given a call of 'boycott Chinese goods' and it is certain that China is going to suffer a business loss of about Rs 50,000 crore in terms of stoppage of import of chinese goods by Indian traders," CAIT stated.
CAIT Secretary General Praveen Khandelwal said a recent survey conducted by the body's research arm in 20 'distribution cities' showed that so far no orders for Diwali goods, firecrackers or other items have been placed with Chinese exporters by Indian traders or importers.
The 20 cities in the survey include New Delhi, Ahmedabad, Mumbai, Nagpur, Jaipur, Lucknow, Chandigarh, Raipur, Bhubaneswar, Kolkata, Ranchi, Guwahati, Patna, Chennai, Bengaluru, Hyderabad, Madurai, Puducherry, Bhopal and Jammu.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI Senior Citizen FD Rates: What Rs 1 lakh, Rs 3 lakh, and 5 lakh investments will give you in 1-, 3- and 5-year FDs
Top 7 SIP Mutual Funds in 1 Year: What Rs 10,000, Rs 15,000, and Rs 20,000 SIPs have given in each fund
IPL 2024 Eliminator Ticket Booking: Where and how to buy IPL Playoffs Eliminator match tickets online - Check ticket price, other details
Dividend, bonus, stock split stocks next week: SBI, Trent, Colgate Palmolive, Bharat Dynamics, Tata Consumer Products, other stocks to trade ex-date
Top Large-cap vs flexi-cap vs ELSS mutual fund: Which fund has given maximum returns in SIP and lump sum in 3 years
12:05 PM IST