Indian Products V/s Chinese Products
With all the Indian markets flooding with Chinese products, all of us have filled our homes with these products thus ignoring the Indian products big time. What fascinates the common people about these products is their attractive design and low cost. For example, the glittery sparkling lights that we buy during the festive season has over-powered the homemade diyas in every household. The question that arises here is that is it really killing the Indian economy? What effects are the small-scale industries facing because of this? And is it ok to prefer Chinese products over Indian products?
Cost effective: As we all know the tax structure of China is very favorable hence the cost of Chinese products is very nominal. One can get the best features in a Chinese product and a price way less than the ones Indian companies are selling.
Product for everyone: In India, more than 21% of the population is below the poverty line. Chinese products being cost-effective are giving an equal access to the people of all categories.
Attractive: Who doesn’t like those Diwali lights? From kids toys to board games to a lot of decorative items, Chinese products have become the first choice of all those who are fascinated by the attractive décor and other items.
Quality: No matter how attractive a Chinese product may be but most of them are not durable. They are not long lasting and have a very low shelf-life. No wonder major emphasis is put on quantity than quality and hence money invested is ultimately money wasted.
Hitting the Small Scale Industries: Dominance of Chinese product in Indian market is proving as the biggest hit to small-scale industries. 12 major products produced by the MSME in India are also the 12 major imports from China.
Huge trade deficit: Where the import from China by India is around 61 billion dollars, the export is just about 9 billion dollars. This huge difference is a threat to Indian economy as well.
Apart from these points, the dominance of Chinese products is the reason why many small-scale industries are closing thus leaving people unemployed. On the other hand its also not exactly possible to ban the import of Chinese products because in that case also we would have to choose some other country for meeting the demand for the products.