All goods not manufactured in the country should carry a distinct tag indicating that buying this item will be a drain on the foreign exchange reserves. I have lived in Middle East for decades and there Dutch will buy only goods produced in their country including vegetables although these are many times more costly. Same for Japanese and other nationalities. Indians and Pakistanis are the only exception who like to show off by buying branded goods produced in other countries. more
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I personally feel it is a global market and free enterprise should rule. During British rule, when our countrymen were asked to buy local products, that was different because, the Britishers were exploiting our farmers and buying the raw materials at a low price, then selling the finished products at a significantly higher profit margins. Here that is not the case. What we need to understand is how come the Chinese are able to produce the same item at such a lesser price than locally produced product, when they have significantly higher shipping costs, duty, etc. Is it because their government is subsidizing some component of their costs? Or is it because of economies of scale that they are able to achieve low costs? Or is it because their laws allow the employers to exploit their workers? Or is it a combination of these and other factors? In either once we know what it is, we will need to introspect and see if we (Government) are willing to make some regulatory changes (or offer incentives) to enable our manufacturers to be competitive. There are some things we as a society would not want to do i.e. exploitation of workers, etc. Other than that we should try and emulate the best practices in the world and become truly competitive. But merely putting a label "% import content" is not going to change people's behavior. I will always buy based on the value I am getting out it and not necessarily where it is made. Also, I don't always go for the cheapest product. Hope this helps Thanks Nirmal more
Jun 14
I fully agree with the views of both Mr. Rathaur and Mr. Govind. The Chinese goods are being sold in the market in large quantities and the hard earned money of the people are being used to buy these( of doubtful quality) items. This will adversely affect the Indian economy in the long run. more
Jun 14
I fully agree. All goods should have a "% Import Content" label. We are merrily buying Chinese goods (of doubtful quality), and the whole nation is becoming a nation of traders more
Jun 14
