Diwali demand for Chinese products down 40-45%
Indians preference local products, says Diwali survey
The sale of Chinese products may decline by 40-45% this Diwali (the week of 16 October) as compared to last year which was about 30% as per of the market, according to a quick survey by ASSOCHAM-Social Development Foundation (ASDF).
The consumer preference is increasing for made in India products.
The ASSOCHAM interacted with wholesalers, retailers, traders in cities of Ahmedabad, Bangalore, Bhopal, Chennai, Dehradun, Delhi, Hyderabad, Jaipur, Lucknow and Mumbai to estimate the demand for Chinese products across India.
As per the findings, this Diwali, people are preferring Indian products over Chinese goods such as fancy lights, lampshades, Ganesha and Laxmi idols, rangolis and crackers etc.
Demand of electronic items like LCDs, mobile phones and others items made in China has also declined by 15-20%, said D S Rawat, Secretary General ASSOCHAM at the release of the paper on 9 October 2017 in New Delhi.
Chinese goods worth Rs.6,500 crore were sold during last Diwali (2016).
India is a big market for Chinese products with a significant increase in imports over the years. The imports include toys, furniture, building hardware, crackers, lighting and electric fittings, furnishing fabric, office stationary, electronic appliances, consumer electronics, kitchen equipment & appliances, gift items and watches. fii-news.com