You are here: Home » Current Affairs » News » National
Business Standard

Indians' interest in Chinese products dips in this festive season: Survey

The survey was conducted across 204 districts of the country between November 10-15

Topics
Chinese products | China | Diwali

Press Trust of India  |  New Delhi 

People buying decorative lights from the market ahead of the Diwali festival at Chandni chowk in New  Delhi, on Sunday.
People buying decorative lights from the market ahead of the Diwali festival at Chandni chowk in New Delhi, on Sunday.

Indian consumers' interest in 'Made in China' products has declined during the current festive season as just 29 per cent of people surveyed bought Chinese goods, according to a survey conducted by online platform LocalCircles.

Last year, around 48 per cent people surveyed had bought during the festive season, the survey of more than 14,000 people stated.

"When a similar question was asked in November 2019, 48 per cent consumers had admitted to buying China-made products during the festive season last year which dropped down to 29 per cent this year. This is a 40 per cent year-over-year decline in terms of absolute number of Indian consumers buying Made in products during the festive season," LocalCircles founder and chairman Sachin Taparia said in a statement.

The survey was conducted across 204 districts of the country between November 10-15, LocalCircles said.

Even among the 29 per cent respondents who bought China-made goods, 71 per cent said that they did not consciously purchase 'Made in China' products this festive season and 66 per cent consumers admitted to have purchased them because they offered higher value for money, the survey said.

"After over 20 Indian soldiers were martyred in Galwan valley by their Chinese counterpart in June this year, the anti-sentiment grew in India. In the LocalCircles survey conducted thereafter, 87 per cent Indians said they would be willing to boycott China-made products for the next one year," the survey said.

Most of the consumers surveyed by the LocalCircles said that the Indian counterpart for a Chinese product is generally more expensive though it might be of better quality.

However, many festival-related items like LED lighting, tealight candles, plastics, are one-time use products and hence quality is not the top criteria for many consumers etc.

"While on an overall basis, the Indian consumer did spend less on this year, the key takeaway for the government of India and MSMEs is to make manufacturing more competitive in India and improve scale.

"If the high quality products that are Made in India can be produced at scale and cost of capital for Indian MSME is reduced through Government support, products Made in India will definitely find preference amongst Indian consumers," the report said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, November 16 2020. 16:48 IST
RECOMMENDED FOR YOU
.