Indian engineering exports are adversely affected as China has captured the global market by manufacturing products using low quality materials. Chinese small manufacturers compete with India by manufacturing products using cheap materials and selling them off at a cheaper price, which destroys the global market. Chinese government also provides better support to their industry while setting up any plant or project. The Chinese industry gets financial support at ease. In fact, they get government support to buy machinery, technology, land or any other essentials, which in India is not provided adequately.
China subsidizes raw materials, devalue currency and give attractive rebates on exports. While quality and credibility is the main Indian engineering exporters' USPs.
Wednesday, January 19, 2011
Indian Engineering exports hit by China's low quality products
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