This Is How 'Made In China' Products Dominate India And Other Countries Around The World!
China is Indias key trade partner and most of the goods that are sold in the Indian markets are Made In China. A lot of Chinese goods are a lot cheaper than their Indian counterparts. This has forced a lot of small vendors in India to shut shop and become traders.
A lot of countries around the world import goods from China. And if there's any doubt about it, this map clearly shows the impact China has made the world-over with its goods travelling across borders. Most of Australia, India, US, Europe, parts of Canada, Pakistan, Africa and several other countries import from China!
China is India's key trade partner and most of the goods that are sold in the Indian markets are 'Made In China'.
Indian markets which largely thrive on imports, are mainly from China. Probably, this posed a serious concern for the government and the 'Make in India'initiative was introduced. According to 2012-13 figures, India's imports were around $235bn, with China contributing $28 bn, a major percentage of it (11.92%), followed by UAE (8.35%) and Saudi Arabia (6.85). Crude petroleum is India's biggest import with $155bn spent on it in 2012. Imports of gold and silver amounted to $62bn and electronic goods and pearls and precious stones are also top import items for the country.
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In fact, because a lot of Chinese goods are a lot cheaper than their Indian counterparts, this has forced a lot of small vendors in India to shut shop and become traders. In the past few years, imports from China have changed from low-value, low-cost items like toys and crackers to high-value items like electronics and machinery. Also the variety/range of products that are now being imported are innumerable, including product categories like apparel, gift sets, glasses, sanitary ware, furniture and ceramics.
Even vendors in the LED category have closed shops since most LED components come duty-free from China.
Many feel that if they manufacture on their own, they use raw material and by the end when the product is made, the price is almost equivalent to the imported Chinese products that are already displayed in the market. A major reason why most feel that they should shut shop and turn traders. Use of high-end machinery give Chinese products an edge.
For the 'Make In India' initiative to be a success, a lot changes in terms of the kind of machinery we use, taxation policies, providing cheaper land, regular electricity, a systematic approach towards encouraging SMEs and several other measures need to be taken.
