4000 crores loss to China, the Indian Rakhi campaign launched by CAIT

The Confederation of All India Traders (CAIT), a merchants’ organization, has launched the Hindustani Rakhi campaign this year, which will cost China nearly Rs 4,000 crore.

According to CAIT, India has a turnover of about Rs 6,000 crore each year on rakshabandhan. So far, China alone contributed about Rs 4,000 crore. The organization had also sent 5,000 rakhis to Defence Minister Rajnath Singh, which will be extended to the troops stationed along the border.

CAIT has launched the Hindustani Rakhi campaign, which will allow China to lose rs 4,000 crore business. About 40,000 trade associations are associated with CAIT and have 70 million members across the country. “India will launch this Rakshabandhan as a complete Indian Rakhi campaign and will cost China about Rs 4,000 crore,” CAIT said in a statement.

Curbs on imports from China

According to PTI, The CAIT’s Delhi-NCR convener Sushil Kumar Jain said, “Not just the ready-made Rakhi, the first Rakhi making items like foam, paper foil, Rakhi yarn, pearl, drop, decorative items, etc., were also imported from China. But because of CAIT’s Chinese goods boycott campaign, Chinese goods were not imported into Rakhi this year and we are confident that it will cause a loss of about Rs 4,000 crore to China.”

According to an estimate, the country trades about 50 crore rakhis per annum worth about Rs 6,000 crore. Jain said that CAIT had made it clear to all its branches this time that chinese Rakhi or related goods should not be sold. This time, CAIT also engaged in making and selling Rakhi to slums, women self help groups, anganwadi women, artisans and others.

Manpreet Kaur
Manpreet is a news reporter at GetIgnite with a focus on lawmakers and federal regulators. She was previously the lead investigative reporter for the Tufts Daily.