Hyderabad: China Bazaars say no to new stocks from dragon
Say once existing stock exhausted, they would switch to Indian products
Hyderabad: Local shops selling Chinese products across the city, already hit hard by the lockdown, are now slipping further into the financial crisis, following the widespread 'Boycott China' calls. The shops are witnessing business fallby at least 50 percent because of the Indo-China tussle in eastern Ladakh.
Traders say they have started getting rid of the existing stock and have taken to selling Indian goods. They are veering round to the view that stocking Chinese products would only add to their mounting losses.Md Hussain, theowner of a China Bazaar at Safilguda, says, "First lockdown and now this trend have impacted our business big time. We hardly have 40 percent sales now.We are borrowing money to pay the shop's rent, light bills and meet other expenses.Most of the stock which was imported is already over in our store. We are now only selling existing stocks so that we can restock local products. Chinese products give a good sale return which was good for our livelihood but now we are in solidarity with our country. If the dealers provide Indian goods at reasonable costs, we will happily sell Indian products," adds Hussain.
When contacted, Sriram Vyas, the president of Hyderabad General Merchants Association, he said, "There has been no purchase of Chinese products since December 2019 because of the virus. There are around 150 to 200 stores in the city that sold around 20 to 30 percent of Chinese products along with Indian products. Boycotting the goods will impact the business at first but it will take time to remove them completely from the market.""These Chinese products are sold at around 50 percent less than what other shops sell; hence,they has a huge demand amidst the common public. Sellers earn profit by selling these products as they are essential for buyers from all walks of life," he added.
The products sold at the shop includes cosmetics, gift items, watches, bags, belts, luggage, electronics, apparel, kitchen items, toys and footwear which is essential for people from all walks of life. According to the association, around 70 percent of the stock was sold in January-March and now the owners would exhaust the stocks and thereafter start selling Indian goods.
Shops will no more be called 'China Bazars'
In light of the ongoing India-China stand-off in Galwan Valley, the Hyderabad General Merchants Association has instructed all the wholesalers to change their names from China Bazar to Indian Bazaars and stop ordering Chinese products. The association has also decided to encourage 'Make in India' goods and not sell Chinese products at all."Even India has all the products that China produces; so why don't we encourage local production more? We have sent a representation to the authorities concerned to look to make goods available at reasonable price so that the sellers can sell local production more,"informed Sriram Vyas, the president of Hyderabad General Merchants Association.