Thursday, November 7, 2013

Can Indian Goods compete with its Foreign Counterparts??


Our country is the second largest in terms of population; we have around 66% of the population in the working age group and with a literacy rate of ~74%, India is a fast-developing country or apparently so. Ironically we are also the country with an unemployment rate of ~10%, one of the highest amongst countries. We are excessively dependent on foreign goods, starting from mere toothpaste to fashionable clothes; we find the imprints of foreign brands. The adoption rate for locally made products are very limited compared to branded goods which is indeed a dampener for our economy. Whereas going by the positive statistics, this shouldn’t have been the case. But time and again 2 key indices has been ignored – ‘Quality’ and ‘Durability’. Local products score very low in terms of these two most important parameters; we have little or no faith on domestic goods. In a country where quality and customer satisfaction often takes a back seat, how can we hope to progress?
It is high time we start addressing these stumbling blocks or else we will risk losing out entirely on the growing consumer base. With the ever increasing demand, our country should try on increasing and retaining customers by improving the quality and standard of products. Quality norms must be stricter and should leave no ground for customer complaints. Customers should be encouraged to come up with complaints; a reward system should be in place so as to make the process ‘actually’ work. Although in the current scenario this looks like a far cry, but am hopeful of a day when we also will be proud to own something which is ‘Made in India’.