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Chinese exporters may incur ₹40,000 cr loss this Diwali amid boycott calls: CAIT

Chinese companies exporting goods to India may suffer Rs 40,000 crore business loss this Diwali season as the Indian traders’ community is geared up to boycott the sale of goods from China. In a statement issued by traders’ body Confederation of All India Traders (CAIT), National President B. C. Bhartia and Secretary General Praveen Khandelwal said that out of around Rs 70,000 crore business done in India every year during the Diwali season by traders, goods worth around Rs 40,000 crore were imported from China in the past years.

“But because of the brutal massacre by China killing 20 Indian soldiers mercilessly, there is great anger and resentment towards China in the people of the country which has prompted the people not to buy Chinese goods.”

News source ~ Finacial Express