Recently, some media reported that India ushered in the most important diwali festival in the year on October 31, but the wave of social media to boycott Chinese goods has spread to many places in India. Diwali lanterns and LED lights produced in China are in Mumbai's sales have fallen by 30% to 50%.
The reporter asked the relevant persons engaged in the LED trade in India to learn that the number of domestic LED exports to India fell by nearly 80% in the trade they engaged in.
Lin Yida, who is mainly responsible for Mulinsen's business in India, said that although India's domestic consumption level is low, the demand for LED in the Indian market will be great in the future. Prior to the Indian government's request to replace more than 700 million bulbs nationwide, Mulinsen (002745) considered direct production in the local area, or provide LED semi-finished products. It is precisely because the current Mulinsen (002745) provides LED original devices and semi-finished products, as a supplier of LED parts, as long as the buyer has BIS certification.
Indian media reported that in the largest wholesale market in India, the Sardar market, local wholesalers have begun to complain that their imports of Chinese goods fell by at least 20%, including firecrackers, light bulbs, kitchen utensils, toys, gifts, electrical accessories, electronics, Consumer goods, home decorations, etc. However, in the absence of suitable substitutes, the slow-moving, backlog of goods and the damage are ultimately the interests of Indian businessmen and consumers. A wholesaler said: "At present, there are Chinese products in the Indian market, from food, clothes, toys to household items. Although the quality of Indian products has improved significantly, the prices of Chinese products are cheaper."
The “India Today†website also reported that Indian retailers were pretending to sell Chinese goods in order to avoid losses. According to the report, although social media called for boycotts of Chinese goods during the festival, merchants in Rajasthan and Gujarat, which had already been purchased, are still selling cheap Chinese goods.
In response to the ongoing "Resist China" campaign, the Chinese Embassy in India responded that China is the world's largest cargo trading country. In 2015, its export value reached US$2,276.5 billion, and exports to India accounted for only 2% of China's total exports. India’s wave of resistance will not have much impact on China’s exports. Xie Liyan, spokesman of the Embassy in India, said that China-India trade cooperation is deepening. The bilateral trade volume has grown rapidly from 2.9 billion U.S. dollars in 2000 to 71.6 billion U.S. dollars in 2015, a 24 times increase in 15 years.
China has become India's largest trading partner, the largest source of imports and the fourth largest export market; India is China's largest trading partner in South Asia and the ninth largest export market in the world. The Sino-Indian trade relationship is characterized by mutual benefit and mutual dependence, which is conducive to promoting the full use of production factors and maximizing the economic development of the two countries and the well-being of the two peoples.
Xie Liyan said that in 2015, China imported $2 billion worth of cotton from India and imported more than $100 million worth of black tea. India currently has about 60%-70% of the raw material demand for raw materials depends on China. China's exports of smart phones and other high-quality electronic products and household items to India not only reduce India's inflation rate, but also meet the daily needs of Indian people, especially low-income groups. Xie Liyan said that China is more concerned that the "boycotting China" movement encouraged by some Indian forces will affect the enthusiasm of Chinese companies to invest in India and will impact China-India cooperation. This is the Chinese and Indian peoples and the two governments. Not willing to see.
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