CAIT has announced it will launch a national campaign to boycott Chinese goods and will burn them on the festival of Holika before Holi.
Protesting against China's blocking the declaration of Masood Azhar as a global terrorist in the United Nations Security Council (UNSC), Indian traders association, CAIT, has announced it will launch a national campaign to boycott Chinese goods and will burn them on the festival of Holika before Holi.
Beijing has blocked to the UN resolution for the fourth time to designate Pakistan-based terror group Jaish-e-Mohammed's (JeM) chief Masood Azhar as a global terrorist by putting a technical hold on the proposal, a move India termed as disappointing.
On February 27, the US, France and UK moved the proposal to designate JeM head Masood Azhar under the 1267 Al Qaeda Sanctions Committee of the UN Security Council. The Confederation of All India Traders (CAIT), which claims to represent seven crore traders, said trade associations across the country would burn the Chinese goods on March 19.
CAIT said the event would be held at about 1,500 places across the country. In Delhi, the event will be held at Sadar Bazar, one of the hubs of the Chinese goods.
The trader's body has also asked the government to levy 300 per cent to 500 per cent customs duty on imports from China. It also asked the Centre to closely scrutinise the imports in which more of Hawala transactions are involved. Demanding to reduce the dependency on Chinese raw material, the body said special package should be given to indigenous small industries to produce goods at a competitive price.
Commenting on the development, CAIT National President BC Bhartia and Secretary General Praveen Khandelwal said imports from China posed some important questions which included what all was imported was in fact necessary for the economic development, whether imports are linked with Hawala transactions. They also wanted government to investigate whether money paid to exporters of China are being used to fund terrorism activities.
CAIT has demanded the government should have an effective mechanism and set the highest level of standards through which these Chinese goods should pass through. "If this is done, we are sure that Indian goods can anytime match the qualities of these goods and also be price competitive," it said.
Meanwhile, the bilateral trade between India and China jumped 18.63 per cent year-on-year to USD 84.44 billion in 2017. However, the trade deficit with China continued to remain high at USD 51.75 billion during the year.