Coronavirus scare takes a big toll on sales of Chinese goods: CAIT
Kolkata: Traders said the Coronavirus scare has taken a big toll on the sales of Chinese goods in the country.
As per estimates by apex body Confederation of All India Traders (CAIT), Holi related Chinese goods worth about Rs 500 crore is lying with importers in Delhi, Mumbai, Bangalore and Chennai, while another Rs 3000 crore worth of Chinese goods are lying in supply chain.
The CAIT said consumers are also refraining in visiting markets due to the Corona scare resulting in further loss in business.
“Taking a safe passage, consumers are totally staying away from Chinese goods having a fear that the goods might be infected from Corona virus. Even retail traders are least interested in procuring Chinese goods due to shift in consumer behaviour. Though not necessarily the goods are virus affected, but yes the market at large is keeping a distance with Chinese goods,” said Praveen Khandelwal, secretary general at CAIT.
B C Bhartia, national president of CAIT, said that as a normal business practice, the importers keep a buffer stock of 45 days to 60 days with them.
“Such buffer stock is now going to be finished and thereafter the supply chain may get affected. The indifferent attitude of both retailers and consumers towards Chinese goods because of COVID-19 have refrained them to buy even the goods which were imported from China even before COVID-19 broke,” he said.
The CAIT has urged the government to take precautionary actions in ensuring effective and sustainable supply chain across country.