Imported Rakhi products from China to take Rs 4,000 cr hit: Traders' body

Traders' body Confederation of All India Traders (CAIT) expects that imported 'Rakhi' products from China worth an estimated Rs 4,000 crore will take a hit ahead of the upcoming Raksha Bandhan festival to be celebrated on August 3.

CAIT expects this to happen on the back of its boycott Chinese product campaign.

The traders' body said that an estimated Rs 6,000 crore of goods are sold each year during the of Raksha Bandhan festival in which China alone contributes about Rs 4,000 crore.

"In the last few years, China-made Rakhis and other products essential for making Rakhis such as foam,