Chinese goods are likely to suffer major losses in India ahead of Diwali and other festivals. The Confederation of All India Traders has said that they are expecting an estimated loss of Rs 50,000 crore from Chinese exporters this year due to Indians boycotting products from China in domestic markets. Indians are banning firecrackers and other cheap festive products from China this season, which is directly more profitable for India's domestic industries.

In a statement issued on Friday, the traders' body said India's domestic sales are expected to grow sharply this Diwali in view of the rise in people's statistics in markets across the country ahead of the festive season. The Indian economy can see an inflow of ₹2 lakh crore through consumer spending due to Diwali sales.

In a statement on Friday, CAIT said, "Like last year, CAIT has called for a "boycott of Chinese goods" and it is certain that China is going to lose around Rs 50,000 crore in terms of curbing imports of Chinese goods by Indian businesses. Praveen Khandelwal, General Secretary, CAIT said that a recent survey conducted by the research branch of the body in 20 'distribution cities' has revealed that no order for Diwali goods, firecrackers or other items has been placed by Indian traders or importers to Chinese exporters so far.

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