JOIN USCAIT reports 'encouraging response' to China boycott survey
Confederation of All India Traders (CAIT), a representative body of over six crore merchants has intensified its call to boycott Chinese products by launching a nationwide online survey to convince people why India should boycott them.
The ongoing survey, which CAIT claims, has received an overwhelming response within a few hours of its launch, also suggests Chinese firms should withdraw investment in Indian start ups.
If that happens, India's technology start-ups are set to suffer in a major way. Chinese technology investors have poured around around Rs 30,000 crore in the last five years. Indian startups in five years ending March 2020. China has also infused in Indian startups its technology, skill and experience.
A recent report by a Mumbai-based think tank Gateway House suggests as many as18 out of 30 India’s unicorns including Snapdeal, Ola, Swiggy, Paytm, Bigbasket, Flipkart, OYO, Zomato and MakeMyTrip have not only raised funding from China’s Alibaba, Tencent, Fosun, Steadview Capital, Shunwei Capital and Foxconn among others.
In some of the Indian startups like Snapdeal, Ola, Swiggy and Paytm, the Chinese investment is more than $500 million. In Snapdeal, it is over $700 million.
CAIT has also asked Indian celebrities to stop endorsing Chinese goods and claims cricketer Harbhajan Singh has become the first celebrity to support its campaign.
Among nine questions that the merchants’ body has asked include, Do you agree that China's aggression against Indian Army is wrong? Do you feel pain after the death of 20 brave Indian soldiers in Ladakh recently. Do you agree that it is enough & we should teach China a lesson. Are you taking a pledge not to buy or sell Chinese goods? Do you agree that India should cancel all contracts given to Chinese Companies? And, Do you agree that Chinese Companies should be asked to withdraw their investment in Indian startups?
The survey will continue till June 26.