China warns boycott of Chinese goods in India will have negative impact on India ¬bound investments
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There have been calls from some quarters of China also asserted that such a boycott would not have much impact on its exports, but "without proper substitutes, the biggest losers of the boycott of Chinese goods will be Indian traders and consumers". In a statement, the Chinese embassy said 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 per cent of China's total exports and India's boycott of Chinese goods will not have much impact on China's exports.” While the boycott may not impact China’s exports but China said that it will impact Indian traders and consumers, “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."
Amid rising tension in Indo¬Pak ties, there have been calls from some fringe entities, including through social media platforms, about boycott of Chinese goods to protest against China's support to Pakistan. Apex traders body CAIT (Confederation of All India Traders) recently said the sale of
Chinese products are generally low¬priced which is the root cause of infiltration of Chinese goods in the Indian market, CAIT had said. In its statement, Chinese embassy referred to reports that local sellers in Sadar Bazaar, the largest wholesale market of household items in India, have complained about their Chinese goods sale dropping by at least 20 per cent. "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, boycott will not only hurt Chinese goods sale, but also cause negative effects to consumers in India," it said.
Photo Credit: Reuters
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