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Tuesday, January 31, 2023

Import of Chinese goods to Indian markets reduced during festive season

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Amidst the returning glory of festivals two years later, India’s prosperity is on a rise as well. This year, India-made goods, rather than imports from China can be seen filling the markets. The import of decorative items and statues from China has stopped almost completely. No such items have been imported from China since Ganesh Chaturthi. Most of the traders have stopped bringing in Chinese goods because of people’s disliking of the same. This is the reason why while every year, goods worth 20-25 thousand crores reached India from China, but it did not happen this time.

As per the data from the Confederation of All India Traders (CAT), earlier, decorative items and statues worth around 500 crores came to India from China on Ganesh Utsav, which did not happen this year. CAT has said that this year, most of the statues were made out of mud or cow dung. Along with this, the statues which were made using metals like bronze and copper, worth around 300 crores, and were imported from China, are now being made in the country only. This has not only profited small businessmen but has also increased employment. Most importantly, rather than going to China, India’s money is being spent in the country only.

As per a study conducted by PHD Chamber of Commerce and Industry, India is capable of reducing 40% imports from China in the coming years, which will save 2.75 lakhs of foreign exchange.

Sonakshi Datta
Sonakshi Datta
Journalist who wants to cover the truth which others look the other way from.

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