Made in China, Sold in India
With the world turning into a global village and competition getting stiff, countries like China are ruling the roost in many a market in varied spheres. India is the hub of diverse business opportunities, and slowly yet steadily, Chinese products like electronics, crackers, idols, apparels, etc. are predominating similar Indian products.
The festive season is the season of business especially filling the pockets of traders. But instead of the domestic sector holding sway over the market, the opportunities are grabbed by Chinese manufacturers with their variety of exquisite products. Whether it is SMEs (Small and Medium Enterprises) or cottage industries, they are not able to provide a stiff competition to the cost effective offers provided by the Chinese. Due to these relentless imports of Chinese products, most Indian cottage industries have closed down, and the future of the existing ones looks very bleak.
The Chinese entrepreneurs have infiltrated the market in a very systematic manner with their well-planned marketing strategies and continuous innovations. They study the demand patterns and the market trends and work out the lowest price that they can offer to attract a huge section of the consumers while still maintaining a profitable margin. As the Indian market is price-oriented, the domestic players are slowly losing their share to the strategic Chinese entrepreneurs.
Chinese electronic goods like radio, torch, DVD players, etc. are reigning supreme in the Indian market. Decorative items, fashion accessories like slippers, jewelries, hand bags, etc. receive huge responses during festive seasons. This year, one saw the flooding of the Indian markets with Chinese made idols which were welcomed with open arms by the Indian consumers.
Commenting on the change of the market scenario, Mr. S.P Aggarwal, President of Delhi Exporters Association, said, "Chinese...