The booming Indo-Chinese world
Chinese and Indian products have heralded a significant image in the world economy. The surge of cheap goods has led many global economies to import goods from China and India, which can fill the requirements for every niche and any part of the world. That is the reason the two countries are in the top list of the RDE (Rapidly Developing Economies), which quickly returned to whirlwind rates of growth after escaping the worst economic slump in 2008-2009.The popularity of these markets is for reasons, which are well-known to most but well worth discussing.
The low cost strategies have invited many nations across the world to call for imports from China and India. When compared with the economy of many western nations, these countries provide products which are at prices which are extremely affordable and way too low in comparison to what is available in their home countries.
Innovative and Creative products:
The products offered by, India and China offer a great deal of creativity and are really innovative. Especially considering the Chinese market; as per Forbes.com, in 2011 China produced 90% of all the personal computers produced globally that year, as well as 80% of air conditioners, 74% of solar cells, and 70% of the mobile phones. As China sourcing matured, imports from China changed from low-value, low cost products to high- value products like electronics and machinery. The biggest innovation in the Chinese market which has been widely distributed around the world is the smartphone. Xiaomi is among the most successful cheap smartphone manufacturers in China. O one such other niche Chinese brand that has demand throughout the world in selling cheap smartphones is Lenovo.
China’s proportion in world services trade exports rose from 2.4 percent to 4.6 percent, worth $170.2 billion U.S. dollars in 2010, and jumped from the 12th place in the world to the 4th. China’s proportion in world services trade imports increased from 2.6 percent to 5.5 percent, worth $192.2 billion U.S. dollars in 2010, moving from the 10th place in the world to the 3rd.
As per the most innovative companies list published by Forbes in Aug 2014, the five Indian companies on the list are: consumer goods company Hindustan Unilever, which is ranked 14th, followed by IT major Tata Consultancy Services (57), construction services firm Larsen & Toubro (58), pharma major Sun Pharma Industries (65) and Bajaj Auto (96). Many countries across the world seek pride in purchasing from innovative leaders in world market.
Authenticity and culture:
Another reason for the popularity of Indian and Chinese imports across the world is traditional quintessence.
It has an old saga and richness attached to it, which draws the attention of the western world. It exhibits a true cultural value in everything including garments, jewellery and furnishings.
The high acceptance of Indian and Chinese products across the world is leading to the popularity of products manufactured by these two countries around the world and this in a true sense is leading