Sensible to buy local even if it's costlier than imports: Piyush Goyal

Indians will have to pay 'terrible prices' if domestic manufacturing doesn't survive in long run, say minister

Buying domestic products even if they are more expensive than imported items is a sensible decision as low-priced imports affect the manufacturing sector and, by extension, consumers, in the long run, Commerce and Industry Minister Piyush Goyal said on Monday. 

Speaking at the 12th Horasis India Meeting, an event organised by Switzerland-based international think tank Horasis and the Confederation of Indian Industry (CII), Goyal argued buying Indian products was crucial to the ultimate survival of domestic manufacturing.

“If a product is 1 or 2 per cent costlier than an imported product... or probably even a bit costlier than an imported product, very