Huge Drop at Popularity of Chinese Products, Lesser Sell in Diwali 2020: CAIT Survey

Huge Drop at Popularity of Chinese Products, Lesser Sell in Diwali 2020: CAIT Survey

In October 2020, India has decided to ban the Chinese products it used to import and not export Indian products to China. This ‘Ban Made in China’ call has brought both the countries to a trade recession. The Chinese Diwali items are also no exception. Chinese crackers, lamps, lights, and electronics have also got banned from importing, which was imported from China every Diwali by India. Those items used to be available all over India before Diwali. These items had an excellent reputation in the Indian market and had a high demand to give Indian Diwali products a big challenge.
It is estimated that in 2018, Chinese Diwali products of value 8000 crores have got sold, but in 2020 Diwali, the amount is only 3200 crore. This vast drop shows that both the psychology of Indian businessman and Indian consumers has changed drastically. They are now ready to be content with Indian Diwali products.
CAIT has called out the ‘Ban Chinese Products’ campaign, and due to that, in 2019, the Indian market has observed a 30% drop in the sale of Chinese products. Chinese gift items, light and lamps, electrical devices, plastic items, and cooking appliances, Indian God figurines made in china, toys, wall hangings and showpieces, electronics, home decor items, and many more were coming under the list of products prepared according to CAIT which has faced lower consumption last year. The survey also showed that 85% of the Indian businessmen dealing with Chinese products had accepted that Chinese products’ popularity is at a drop though the 15% said that Chinese products are still in demand.
In Diwali 2020, the consumption of Chinese products has dropped even more than the last year. China will face the loss of around 40,000 crores as the CAIT ban has made their fist stronger to fight against the sale of Chinese products this Diwali. It is found that Indian consumers are more interested in buying Indian products than Chinese ones, and that is the main reason for the sales drop in Chinese products. Indian clay diyas and electric lights, green crackers, India made clay, brass, silver God idols; kitchenwares are on-demand in the market.