New Delhi: Amid the backdrop of the face-off between PLA troops and Indian Army in the Galwan Valley, India has given a massive blow to China-made rakhis, causing a huge loss to the country of around Rs 4,000 crores this year. Also Read - 'China Back Off': Fresh Protests Break Outside Embassy in Nepal Over Alleged Chinese Intrusion

Traders’ body Confederation of All India Traders (CAIT) had 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. Also Read - Proud Moment! 17-Year-Old Surat Girl Appointed Green Ambassador By United Nations Environment Programme

“In the last few years, China-made Rakhis and other products essential for making Rakhis such as foam, pearls, drops, thread, decorative thali etc. have captured a significant share in the Indian market. However, this year due to the Galwan clash, the anti-Chinese sentiment among the buyers and sellers have started to show its effect as the demand of locally produced Rakhis have increased  ” CAIT had said in a statement Also Read - 16 Countries Provide Visa-Free Entry to Indian Passport Holders: Govt Tells Rajya Sabha

National President of CAIT, BC Bhartia and National General Secretary Praveen Khandelwal said that traders from all over the country will start the “China Quit India” campaign on August 9.