Table of Contents
Why should Chinese products be banned in India?
1) Reasons for the ban Import of such items from China has been harming India’s small and medium enterprises. Quality concerns have also been cited as one of the reasons for the ban. India has been expressing concern over the trade deficit which last year touched USD 46 billion.
What does India import the most?
India main imports are: mineral fuels, oils and waxes and bituminous substances (27 percent of total imports); pearls, precious and semi-precious stones and jewelry (14 percent); electrical machinery and equipment (10 percent); nuclear reactors, boilers, machinery and mechanical appliances (8 percent); and organic …
Why is so much made in China?
In addition to its low labor costs, China has become known as “the world’s factory” because of its strong business ecosystem, lack of regulatory compliance, low taxes and duties, and competitive currency practices. Here we review each of these key factors.
How has covid-19 affected Vietnam’s exports?
During the first six months of 2020, amidst the devastating Covid-19, exports from Vietnam were almost on a par with India’s, speaking volumes about the country’s aspirations. In fact, the average annual growth rate of exports from Vietnam have shown a growth of 3 per cent, while India showed a negative growth of 24 per cent during the same period.
How can foreign tech brands compete with China’s domestic market?
Foreign tech brands now have to compete with quality Chinese products in China’s domestic market; in Vietnam, the tech market is less crowded and consumers are receptive to foreign brands. Plus, from Vietnam, these companies will have enhanced access to the South East Asian consumer markets which make up ASEAN.
Is China still the best choice for manufacturing in Vietnam?
China does offer comprehensive supply chain infrastructures, reliable local suppliers, and an experienced workforce which Vietnam is aiming to build, but currently lacks. For value-added manufacturing which requires skilled staff, China is still the best choice. China remains a workshop of the world, just perhaps not the world’s workshop.
Is Vietnam the preferred choice of electronics companies to move out of China?
Amidst this, Vietnam has emerged as the preferred choice of electronics and mobile phone companies, trying to move out of China. Vietnam’s total merchandise exports grew at an annualised average rate of 18 per cent in the last 10 years till 2019, as compared with India’s 5 per cent.