Monday, September 04, 2006

Chinese goods overtaking Indian market

Visit any modern format store and you’ll see that a substantial part of the products are made in China. HyperCITY has nearly 30% of its goods from China, while Magnet and Big Bazaar have 20% each. Most of the products from China fall into the non-food categories such as toys, electronics, crockery, appliances etc. and this amount is expected to rise to 50% in the future.

According to Andrew Levermore, CEO of HyperCITY,
“Electronic goods sourced from China could be up to 30% cheaper than branded electronic goods.”
Ashok Maheshwari, MD of HomeCare Solutions, which manages Magnet hypermarket states,
“Not only are Chinese goods much cheaper, they’re also far ahead of local goods in design and innovation.”
Read the full article here.

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