Dearer Chinese sports goods bring cheer to industry

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Jalandhar, Oct 12 : A weak rupee against the US dollar has brought cheers to the sports industry here as it has made the import of Chinese goods costlier. The value of rupee against the dollar has come down by at least 20 % in recent months, which indicates a 20% rise in the prices of imported sports goods from China.

“China’s sports market is flourishing in India as their prices are very less than the Indian goods, resulting in a high sale volume for them, but weak rupee will definitely bring some cheers to the local manufacturers as it will lead to increase in the prices of Chinese goods in the international market,” Sports Goods Manufacturing and Export Promotion Council chairman Raghu Nath Rana said.

China has brought the local industry into tight spot. Be it badminton, table tennis, fitness equipments, the country has run down the local sports industry heavily, Rana said.

Several sports goods manufacturing units were turned into virtual trading business of imported goods from China, as it was extremely difficult for the industry to compete with the cheap Chinese products.

Meanwhile, he said that government has levied 25% duty of Chinese imports but it has no meaning for Chinese producers as their price was very low than Indian goods.