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18/03/2019 04:14pm

Traders to burn Holi of Chinese goods at 1500 places simultaneously on March 19

image Traders to burn Holi of Chinese goods at 1500 places simultaneously on March 19

New Delhi, Mar 18 (KNN) The Confederation of All India Traders (CAIT) has given a call to boycott Chinese goods to more than 40 thousands trade bodies across country who are its members and thereby representing 7 crore traders from across India.

CAIT has also called for burning of Holi of Chinese goods on March 19, ahead of Holi festival which will be held at about 1500 places all over the Country.

In Delhi, the event will be held at Sadar Bazar one of the hub of Chinese goods, said CAIT.

The traders’ body demanded the Government as a first step to levy 300% to 500% custom duty on imports from China and also closely scrutinize the imports where more of hawala transactions are involved.

It has also demanded the Government that to reduce dependency of Chinese raw material and goods special package should be given to indigenous small industries to produce goods at a competitive price.

In a statement, CAIT said “Imports from China poses some important questions which include what all is imported is in fact  necessary for the economic development, whether the Government is getting legitimate revenue on imports, whether imports are linked with hawala transactions, whether money paid to exporters of China are being used to fund terrorism activities.”

During 1990-91 the economy was opened for global trade for three conditions i.e. in those projects where huge investment is required and there is gestation period for returns in the project, in those Areas where high level technology is required and our country may not be in a position to have it and in those areas where huge employment will be generated, pointed CAIT.

But unfortunately in case of China the goods that are coming in our country are of mass consumption, very ordinary goods where probably technology is not all that is required, it added.

More importantly the check that is required for import of goods is in existence or not has to be seen.

The Chemicals that are being used for coloring different things, the food items which they are sending, are all the goods passing through the standards they are expected to follow, are some of the questions where answer is not visible.

CAIT suggested “Government should have an effective mechanism and government should set highest level of standards through which these Chinese goods should pass through. If this is done, we are sure that Indian goods can anytime match the qualities of these goods and also be price competitive.”

It has been seen that Chinese goods are declared at highly undervalued prices. It could be collusion or hand in glove offer with our administrative system. When such material which are grossly undervalued come to the port, custom duty is paid at a very low price, traders’ body added.

Also IGST is paid at a very lower price and then this material goes into grey market and is sold at very competitive prices as compared to Indian goods where GST is paid at full amount. To substantiate this, If verification of IGST paid at customs port is linked to credit for IGST taken by importers, it will be seen that in most of the cases where Chinese goods have been imported, nobody has claimed IGST, it suggested. (KNN Bureau)

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