LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » India News

Big setback for China! Diwali sales cross Rs 72,000 cr, Chinese traders suffer Rs 40,000 cr loss

Chinese traders have suffered a massive financial loss during Diwali, according to sales data released by the Confederation of All India Traders (CAIT) on Sunday (November 15).

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Big setback for China! Diwali sales cross Rs 72,000 cr, Chinese traders suffer Rs 40,000 cr loss
CAIT said the sales during the Diwali festive season jumped as high as Rs 72,000 crore. Source - PTI.
Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Mon, Nov 16, 2020
09:58 am
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Diwali sales at Rs 72,000 crore amid 'boycott' of Chinese goods Diwali sales at Rs 72,000 crore amid 'boycott' of Chinese goods
PM Narendra Modi celebrates Diwali with soldiers in Jaisalmer, Rajasthan - Here are TOP QUOTES from his Longewala Post address PM Narendra Modi celebrates Diwali with soldiers in Jaisalmer, Rajasthan - Here are TOP QUOTES from his Longewala Post address
Delhi Diwali weather, pollution alert! Firecrackers may push it to severe zone; rains likely on Sunday Delhi Diwali weather, pollution alert! Firecrackers may push it to severe zone; rains likely on Sunday
Prosperous and healthy! Did you check PM Narendra Modi's Diwali message for you? Here it is Prosperous and healthy! Did you check PM Narendra Modi's Diwali message for you? Here it is
What is in Yogi Adityanath's Diwali 2020 gift hamper for President Kovind, PM Narendra Modi? What is in Yogi Adityanath's Diwali 2020 gift hamper for President Kovind, PM Narendra Modi?

Chinese traders have suffered a massive financial loss during Diwali, according to sales data released by the Confederation of All India Traders (CAIT) on Sunday (November 15). CAIT said the sales during the Diwali festive season jumped as high as Rs 72,000 crore across major markets in the country despite a total boycott of the Chinese items. It is expected that Chinese exporters suffered losses with Rs 40000 crore this Diwali season amid boycott call by Indian sellers. 

It is to be noted that CAIT had issued a call to boycott the Chinese products following the tension between India and China at the Line of Actual Control (LAC) in Eastern Ladakh. 

"As per reports gathered from 20 different cities which are also considered to be the leading distribution centres of India, it is expected that Diwali festive sales generated a turnover of about Rs 72,000 crores and gave China the expected loss of Rs 40,000 crore," CAIT said in a statement. 

The consumers spent big on fast-moving consumer goods (FMCG), consumer durables, toys, electrical appliances and goods, electronic appliances and white goods, kitchen articles and accessories, gift items, confectionary items, sweets, home furnishing, tapestry, utensils, gold and jewellery, footwear, watches, furniture, fixtures, garments, fashion apparels, cloth and home decoration goods. 

According to CAIT, the robust sales during Diwali festive season indicate 'good business prospects in the future'. 

Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Kolkata, Nagpur, Raipur, Bhubaneswar, Ranchi, Bhopal, Lucknow, Kanpur, Noida, Jammu, Ahmadabad, Surat, Cochin, Jaipur, Chandigarh are considered as 'distribution cities' by the CAIT for the purpose of its surveys. 

The sales come as a positive for the Indian economy. The country could return to growth in the ongoing quarter ending December 2020 if the "momentum" gained in September and October is sustained, the RBI said this week. The central bank said there was "optimism that the revival of economic activity is stronger than the mere satiation of pent-up demand," adding that similar consumption patterns could ensure a return to growth earlier than expected.

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.

TAGS:
DiwaliChina
RELATED NEWS
Diwali sales at Rs 72,000 crore amid 'boycott' of Chinese goods Diwali sales at Rs 72,000 crore amid 'boycott' of Chinese goods
PM Narendra Modi celebrates Diwali with soldiers in Jaisalmer, Rajasthan - Here are TOP QUOTES from his Longewala Post address PM Narendra Modi celebrates Diwali with soldiers in Jaisalmer, Rajasthan - Here are TOP QUOTES from his Longewala Post address
Delhi Diwali weather, pollution alert! Firecrackers may push it to severe zone; rains likely on Sunday Delhi Diwali weather, pollution alert! Firecrackers may push it to severe zone; rains likely on Sunday
Prosperous and healthy! Did you check PM Narendra Modi's Diwali message for you? Here it is Prosperous and healthy! Did you check PM Narendra Modi's Diwali message for you? Here it is
What is in Yogi Adityanath's Diwali 2020 gift hamper for President Kovind, PM Narendra Modi? What is in Yogi Adityanath's Diwali 2020 gift hamper for President Kovind, PM Narendra Modi?

LATEST NEWS

Tata Steel, JSW Steel, SAIL to Jindal Steel - Important trend sighted, check impact

SBI vs HDFC Bank vs ICICI Bank: This bank will give MASSIVE return under Senior Citizen Special FD Scheme

Shehnaaz Gill rings in birthday with Sidharth Shukla

Reliance Industries Share price and Target price Rs 2090: Buys says HSBC, RIL morphing into this

Microsoft surpasses $5B in gaming revenue for 1st time: Satya Nadella

Realme X7 Pro, Realme X7 5G smartphones official launch date in India announced; CEO Madhav Sheth reveals dates

Gmail user? Important update warning issued by Google; if you don't do this, you will be blocked and not be able to use special features

Triumph unveils all-new Speed Triple 1200 RS; See complete features here!

Proud moment! India's TCS becomes world's largest IT company, beats Accenture! Surpasses Reliance Industries market capitalisation

Sabarna Roy’s seventh literary work “Fractured Mosaic” launching this February

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved