India beware: The dragon is moving, and fast
S. Padmanabhan
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Chinese products, for instance, have a minor share in the Indian market, though they enjoy the reputation of being inexpensive but good in quality. Indian companies, particularly small and medium firms, drove up production costs with their low productivity, making their goods less competitive.
This led to the Government conducting frequent anti-dumping investigations on Chinese goods. In 2002-2003, India filed 30 anti-dumping cases. Of these, Chinese products were regarded as the main targets, taking up half the number — 15 cases.
Comparisons between China and India, two ancient civilisations with huge populations, have become common. But until India sheds its wariness of China and the latter's competitive strengths, it cannot compete with it on an equal basis. For this, Indian business should get an idea of what it is up against.
A brief summary of an article from the People's Daily dated March 9 is given below. The article gives the data on the Chinese economy for the year 2003. Should we envy that country, be wary of it, learn from it or ridicule it?
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