You can help India Grow
India as been exporting historically, until recently when our trade balance fall apart and our imports were more than our exports. To, put India back on track and help it reclaim its lost glory, we should start buying “Made in India” products which are competitively priced. There is a huge difference in buying competitively priced product and buying cheap products. When you say you wanted buy a competitively priced product, you are ready to analyse the features, quality and after sales support for the product whether made in India or imported. In contrast, when you say, you wanted to by a cheap product, you wanted to buy whichever product is cheap in the market in pricing terms and you are not worried about the rest. Most of the cheap products are imported in many areas like electronics, textile and machinery.
How you can help India by buying “Made in India” products ?
- Provide a fellow Indian with a much needed job. It is a citizens social obligation to help a fellow citizen with a job. This job can trigger a chain of events. The salary the company pays him will be spent in the economy and will result in more demand for the goods that you may manufacture or a service that you may offer. Say, you are a garment company. You wanted to buy a machinery for you factory. You have an option to buy an imported machinery for Rs.1 Lac. or a “Made in India” machinery for Rs.1.1 Lac. and by comparison , both the products are competitively placed in terms of features, but you are not sure about quality or after sales service. If you spend that additional Rs.0.1 Lac to buy the “Made in India” machine, then that money will be paid as salary to an Indian. That employee will spend that money in India and many such people will buy more of you clothing products.
- Reduce the trade deficit of India. Buying more and more “Made in India” products will reduce our dependency on imports and our trade deficit will fall. A balanced trade level will put India in commanding position in any negotiations in whatever area it may be.
- Improve the value of INR both domestically and internationally. With a much more balanced value of INR, your overseas trip will be inexpensive, send our kids to anywhere in the world to acquire the much needed worldly knowledge to survive in this global village.
These are only few points on how you can make a change by buying “Made in India” products.