Diwali 2020 Festive Sales Generated Rs. 72,000 Crore In India, China Suffers Rs 40,000 Crore Loss

When tensions were growing on the Indo-China border in May 2020, Sonam Wangchuk made an appeal to Indian citizens to boycott Chinese products. He told people to make china unstable by using the power of wallets.

He said China Ko Jawaab Sena Degi Bullet Se, Naagrik Dengey Wallet Se. He got an overwhelming response from citizens of India supporting the boycott of Chinese products.

This Diwali 2020, China suffered a massive loss of Rs 40,000 crore, and Indian traders sold products of around Rs. 72,000 crore.

CAIT, The Confederation Of All India Traders said that amid the boycott of Chinese products, the Indian market registered a sale of Rs. 72,000 crore worth of products during this Diwali festival 2020 and Chinese traders and exporters saw a loss of around Rs. 40,000 crore.

According to CAIT statement, “As per reports collected from 20 different cities which are also considered to be the top distribution centers of India, it is expected that Diwali festive sales generated a turnover of about Rs 72,000 crores and China suffered the expected loss of Rs 40,000 crore,” 

Image Source

CAIT also said that there are good business possibilities in the future.

Clay Diyas, firecrackers, traditional clothes, utensils, lightings, toys, home decoration, rangoli, pooja material, handcraft items, etc , were the most sold products this Diwali Festival 2020.

Due to firecrackers ban in various states of India such as NCR, West Bengal, Rajasthan, Haryana, Odisha, traders and sellers also watched a loss of around Rs. 10,000 Crores.

In order to overcome the losses of traders and sellers, CAIT demanded compensation from Delhi’s CM Arvind Kejriwal and the top bodies of other states.  It said that it was a blatant violation of the May 2019 order of the Supreme Court that said, “it wasn’t in favor of a complete ban on crackers and instead suggested controlling the polluting direction of the industry.”

Also, CAIT is in talks to launch its own E-commerce platform in December in order to bring the traders online and hold out against various malpractices in business done by other platforms.

Also Read: Tanishq Takes Down Its Latest Ad That Promotes To Ban Firecrackers This Diwali After Getting Critisized On Social Media

Deeptanshu Panthi
Deeptanshu Panthi is the founder of IndiaBhasha.com. He looks after the content production of this website. He also occasionally writes for this website on various topics of Business and India.