Indian sellers have been witnessing strong demand across categories like apparel, fine jewellery, toys, auto parts and accessories and home decor, especially during the holiday season.
Last year, around 48 per cent people surveyed had bought Chinese products during the festive season, the survey of more than 14,000 people stated.
The first month of this year’s festive season has turned out to be a fruitful one for automakers with most of them reporting record sales after several quarters of slowdown.
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However, Xiaomi continued to lead the Indian smartphone market in Q2 2020 with 29 per cent market share while other Chinese brand OnePlus regained its top position in the premium market.
The company is looking at tapping markets like Vietnam, Bangladesh and Sri Lanka as it wants to reduce reliance on Chinese imports.
Chairman and Managing Director, Sanjiv Mehta said the products that saw highest demand during the lockdown were coffee, santisers, deep cleaning and Kissan products.
Cashing in on the sudden surge in demand especially home snacking amid the lockdown, the company has launched new products and expanded its rural reach.
The outflow of funds in March comes after six consecutive months of investment by FPIs since September 2019.
As for the Indian markets, while the fall in the stock indices was steep, one must also remember, that there was an inexplicable run up sans any fundamental reason over the previous six months.
Industrial production and retail inflation data is due on Wednesday, while WPI inflation numbers will be released on Friday.