In one of the biggest anti-China protest being launched in India, around 7 crore Indian traders have joined forces, and declared that they will stop selling Chinese products.
The protest starts on June 10th.
CAIT, which counts among most powerful lobby of offline traders from India is leading the protests.
7 Crore Indian Traders Will Boycott Chinese Products
Confederation of All India Traders (CAIT), which has 7 crore traders from India, and 40,000 trade associations, has declared that they will launch a massive #BoycottChinese protests from June 10th.
This means that from June 10th, 7 crore traders and 40,000 trade associations will stop selling Chinese products.
As per CAIT Secretary General Praveen Khandelwal, this protest will be carried across entire India, and it will have two main objectives:
- To motivate Indian traders from stop selling Chinese products
- To motivate them to sell and encourage Indian products
In fact, CAIT has already shown 3000 Indian alternatives for imported Chinese products, and will ask their 7 crore members to push the sale of these, rather than Chinese products.
CAIT aims to reduce imports from China to $13 billion by 2021.
Rs 9 Lakh Crore Lost Due To Lockdown
As per CAIT, Indian retail sector lost whooping Rs 9 lakh crore due to the 60 days lockdown, across India.
40% of 60 lakh employees working in the retail sector in India, can lose jobs, which means that around 24 lakh Indians will lose jobs.
Although the lockdown has ended in the containment zones, and shops are being opened, but the retail sector witnessed only 5% business, and only 8% of the employees returned to the work.
As per CAIT, 80% of the retail employees in both organized and unorganized sector have left for their native place, creating a huge manpower crunch.
CAIT is demanding a separate economic package for the retail sector, and has expressed deep regret that PM Modi failed to include the traders of the retail sector in their Rs 20 lakh crore relief package.
More details are awaited. Stay tuned!
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