In the middle of the ongoing sour relationship between China and India, Messages are being surfaced to boycott Chinese products this Diwali season. China today, said that boycotting their product will negatively impact the India- bound investments from its enterprises and also the bilateral cooperation between the two countries.
China also claimed that such boycott would have no impact on its export but, “without proper substitute, the biggest losers of the boycott of Chinese goods will be Indian traders and consumers”.
It was said in a statement by Chinese embassy, “China is the world’s largest trading nation in goods, with its exports in 2015 amounted to USD 2276.5 billion. The exports to India accounted for only 2 percent of China’s total exports and India’s boycott of Chinese goods will not have much impact on China’s exports. China is more concerned that the boycott will negatively affect Chinese enterprises to invest in India and the bilateral cooperation, which both Chinese and Indian people are not willing to see…The boycott effect will not limit to Diwali related products but extended to other Chinese products that are not related to the festival. In the long-run, the boycott will not only hurt Chinese goods sale but also cause negative effects to consumers in India”
Top traders body, Confederation of All India Traders said the sale of Chinese Products may decline by 30 percent this Diwali.
It also said that Chinese products are generally low priced, which is the root cause of penetration of such products in Indian market.
Chinese embassy further said, “China has become India’s largest trading partner, a source of imports and fourth largest export market. Moreover, India is China’s largest trading partner in South Asia and ninth largest export market in the world”