: Traders' body urges government to hike duty on Chinese imports #FinanceIndia #StockMarketNEWS Traders' body urges government to hike duty on Chinese imports New Delhi, Aug 25 (KNN) In a bid

@StockMarketNEWS Sat 29 Aug, 2020

Posted in: #FinanceIndia #StockMarketNEWS

Traders' body urges government to hike duty on Chinese imports #FinanceIndia #StockMarketNEWS
Traders' body urges government to hike duty on Chinese imports New Delhi, Aug 25 (KNN) In a bid to stop China from participating in Indian markets amid festive season, the Confederation of All India Traders (CAIT) has sought support from the government.

In this regard, the traders body has dashed off a letter to Union Commerce Minister Piyush Goyal, urging him to hike in custom duty on various articles import from China, plug alternate routes which can be used by China for pushing its exports to India, implement mandatory mentioning of country of origin with each product sold on e-portal from September 1st, 2020.

It also demanded a ban on other Chinese apps which can pose threat to security of the country and debar Huwaei and ZTE Corporation from participation in 5G network roll out in India.

CAIT National President B C Bhartia & Secretary General Praveen Khandelwal said that upcoming festival season which includes Diwali is unquestionably the largest most celebrated festival of India. Next four months beginning September are purchasing months every year and therefore to reduce the consumption of Chinese goods and to raise purchase of Indian goods the above steps are necessary to support vocal for local and Aatma nirbhar Bharat call of Prime Minister Narendra Modi.

In its letter to Commerce minister, CAIT suggested that a logical hike in import duty on the products like God Idols, electric goods including decorative electric bulb series, decorative articles, toys, textiles, home appliances, textiles, electric & electronic gadgets, cameras, solar modules, batteries and cells, inverters, cleaning equipment, furnishing fabric, furniture, aluminium utensils & other aluminium goods, paper & stationery, beauty products, FM-CG goods, consumer durable and other related sections of retail trade.

CAIT further said that since the union government has taken several extraordinary and exemplary steps to restrict participation of Chinese companies in several core sectors including infrastructure, Highways, Railways etc which is an alarming bell for China.

"We apprehend that China may adopt another strategy of not exporting goods directly to India but can take the route via ASEAN and SAARC countries. Therefore, there is an urgent need to draw preventive steps to stop imports of Chinese goods into India from such routes"-said Bhartia & Khandelwal.

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