Indian traders pledge to support CAIT's national movement to boycott Chinese products

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In the backdrop of violent face-off between Indian Army and Chinese troops in Galwan valley Ladakh, in which 20 Indian Army personnel lost their lives, the Confederation of All India Traders (CAIT) on Wednesday said that traders have taken a firm pledge to support CAIT's national movement to boycott Chinese products and promote Indian goods.

The CAIT has also urged the government to take certain immediate steps like canceling Chinese contracts and making rules for withdrawing investment by Chinese companies into Indian startups and corporations, to give a "strong befitting response to China for their unethical and barbaric actions against the Indian soldiers".

CAIT National President BC Bhartia has urged the Government to take a strong position on China and thereby immediately cancel all government contracts awarded to Chinese companies.

He said that over the last few months, Chinese companies have been making firm inroads into various government contracts and by bidding at very low rates and in this way they are able to bag several government project tenders. Bhartia said the government must instead favour Indian companies even if there is a marginal difference in cost.

Praveen Khandelwal also highlighted the rapid growth of Chinese investments in Indian tech startups and Corporations. He said that there is an immediate need to put an end to Chinese dominance in the tech start-up segment.

"Various Indian startups like Paytm, Udaan, Big Basket, Milk Basket, Flipkart, Swiggy to name a few, have become Indian giants riding on Chinese money. It is nothing but a sinister design of China to capture the Indian retail markets completely. He said that the government must bring in rules to put a blanket ban on Chinese investments as well advise these technological giants to withdraw Chinese investments," he told news agency ANI.

Bhartia also raised serious concern over the large scale commercial endorsements of Chinese brands by Indian celebrities. He made a humble appeal to all Indian celebrities to stop endorsing Chinese brands and respect the mood of the nation.

(With ANI inputs)