There are some sectors of the Indian economy that compete with the Chinese one. China is a manufacturing economy while ours is an agrarian one. Half the population depends on agriculture although it only contributes to 13% of the GDP.
This is an interesting time because for whatever reasons, all Chinese foreign investment now needs government approval, which means the government can pick and choose who should be in the market and who should not, which in turn creates uncertainty for the consumer.
Competition, above everything else, helps the consumer breathe easier. They can pay for housing, their monthly bills, and save and pay for entertainment without having to forgo on any one of these just because the market hasn’t delivered.
A good and fair market is one in which services and products from all over the globe can find a place on the shelf of the local supermarket, giving our hardworking consumers ample choice and opportunity to save and relish what he/she desires.
The Chinese car company, Great Wall has requested permission from the GOI for an opportunity to be able to serve the Indian consumer and I say, they shouldn’t need to go through these regulatory procedures in the first place but instead, they should be welcomed. Local car manufacturers will get to not only benefit from it but Great Wall can help aid their businesses as well.
The consumer has a right to buy whatever he/she desires from whomever he/she desires. It’s simple. Yes?