China is flexing money power to disrupt Indian retail market and if Indian Government takes it seriously, more than 40 percent retail shops would be closed, said Chairman of Jabalpur Chambers of Commerce Prem Dubey.
He said that in the past six months India has suffered massively in the Corona pandemic and at the same time China is infusing billions of dollars through companies from other countries in Indian App retail industry. In India four major App retail companies have been invested heavily by China and figure stood very tall at 40 billion dollars.
In the upcoming festival season these big companies are offering 40- 70 percent discounts. These companies are posting heavy losses for the past three years. The Chinese Red Money has firmly gripped these companies.
The Indian retail and industries would not be able to compete and sell at discounted rates as these App based retail companies resulting in shutting of millions of retail shops across country leaving lakhs of people unemployed.
Senior Vice President of Jabalpur Chambers of Commerce Himanshu Khare said that enquiry should be conducted about these companies regarding investment even after bearing heavy losses they are getting massive investments from foreign countries.
The Indian Army Personnel are martyred at border while from Chinese trick would kill the Indian traders at their shops.