Dragon Stings City Traders

‘Atmanirbhar Bharat’ call to reduce dependence on Chinese imports has enthused many. But businessmen in Delhi fear that the campaign may backfire, reports Siddhanta Mishra

- Siddhanta Mishra

First, they were dealt with a heavy blow of the Covid-19 lockdown. Then, comes the government’s ‘At manirbhar Bharat’ (self-reliant) campaign — a nationwide call to reduce dependence on imports, especially from China, in the wake of the violent face-off between the Indian Army and China’s PLA troops in the Galwan Valley in Ladakh. Traders and businessmen in the national capital have now begun asking whether it is reasonable to completely shun the import of China-made products. The traders complain that there has been a sharp decline in the sales of automobiles and electronic items such as cellphones, televisions, computers and laptops. And with a series of festivals, beginning with Raksha Bandhan, lined up for the next few months, they fear that the campaign might cause a large-scale business loss.

According to market experts, approximately trade worth up to ₹40,000 crore takes places in this festival season across India, out of which up to ₹22,000 crore business is China-dominated. In Delhi alone, trade worth ₹2,300 crore takes place during Raksha Bandhan.

The rakhis from Delhi’s Sadar Bazaar are sold all over the country, the market is not decorated with China-made bright rakhis as it used to be in previous years. According to the Confederation of All Indian Traders (CAIT), India’s largest trader’s body, every year trade of more than ₹6,000 crore takes place over the festival. China’s portion of this trade is around ₹4,000 crore. It is this business that the traders’ body has planned to bring down to zero.