It is always not true that a cheap product has many takers. When it comes to quality, most buyers do not want to compromise. This at least seems to be the trend in the current global scenario where ‘Brand India’ has outwitted ‘Brand China’ in the textile market.
According to the Indian Textile Minister Shankarsinh Vaghela, despite of inability of the Indian textiles to compete with Chinese products in terms of price, Indian textile products have a greater credibility than the Chinese goods. Indian exports are heavily reliant on textile and ready made garments have suffered in recent months following appreciation in the Rupee. Currently the country’s total textile exports stand at $19 billion.
Chinese goods are known for their cost competitiveness. However, the low prices of these goods are not solely attributable to the cheap cost of labor but at times, the quality of products is not reliable. In recent years, cheap Chinese toys have come under scanner for use of unhealthy materials. When it comes to export of products from emerging nations to the industrialized world, the buyers rely more on the brand to be sure that the quality despite of its price is reliable.