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  • Made-in-India products likely to catch up with Chinese goods in the next 10 years

    11 August Bangaluru-We are the worlds rising second largest market economy having largely cheap wage, cheap cost of productions etc. In case of daily consuming goods there are getting far better than before 10 years in case of comparing to chinese goods, its’ not good enough to boycott the Chinese goods.

    We’ve tried to boycott the Chinese products but we don’t have the proper infrastructure to compete this issue. for example chinese products are entered into our society very depth likely into the bed. Our previous time period we’ve had small industries. After arrival of chinese goods into our market these industries were collappsed after all all the indian communities were compelled to use chinese product.

    It means there is too hard to boycott the chinese product from india. Chinese goods were storngly accepting in india’s  villages for economic with quality products.

    There are complex explanations for the cost advantages of made-in-China products, such as complete domestic industrial chains, which can help cut production costs. India has long wanted to replace China as a global manufacturing hub but that goal cannot be achieved overnight, as the Local Circles’ survey results indicate. Given this situation, absorbing foreign investment could be a shortcut for India to realize its dream.

    India, with a high economic growth rate and young labor force, has grown increasingly attractive to overseas investors in the manufacturing sector. However, it can take two or three years to investigate, negotiate and build a factory, and then another year or two to establish sales channels in the country so that local residents can access these made-in-India products.

    Many Chinese companies such as telecom equipment maker Huawei have announced plans to establish manufacturing facilities in India. The country is likely to experience heated inbound investment in the next 10 years as its consumer market matures, but granting national treatment to foreign-based companies doing business in India is a prerequisite.

    Made-in-India products don’t necessarily have to be produced by domestic enterprises. For instance, Huawei smartphones made in India should enjoy the same treatment as local products because the Chinese company can create jobs and generate tax revenue for the local economy.

    It is possible for India to catch up with China in terms of production and cut its trade deficit with China in the next 10 years, but the horizon will recede indefinitely into the future if India metes out unfair treatment to foreign-based investors and relies simply on domestic enterprises to turn itself into a global manufacturing hub.

    Rajendar

    Co. Editor

     

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