Why imports of ganesh idols from china won’t easily subside
Finance minister Nirmala Sitharaman, in an address to BJP’s Tamil Nadu unit workers, raised what appeared to be a rhetorical question. She asked why even finished products such as Ganesha idols had to be imported from Chinese firms. She also wondered about the mismatch between the goal of self-reliance and the trend of importing products such as incense sticks which are made locally by MSMEs.There’s a simple answer to it: Cost. Chinese firms have a large cost advantage on account of economies of scale. These scale economies are not something an MSME, or even bigger Indian firms, can aspire to.
The solution lies in reworking the current economic policy to encourage Indian firms to achieve economies of scale in production. That’s what will make a durable difference to local manufacturing. Nirmala Sitharaman, who was earlier commerce minister, knows that without an economic architecture that incentivises scale in domestic manufacturing, imports will not subside.
Stay updated with The Hindu Editorial Vocab24 app, your definitive source for breaking news and comprehensive coverage from India and around the globe. Whether it's political developments, business updates, sports highlights, the latest technology trends, or current events, The Hindu brings live, accurate, and reliable news directly to your device.
Don’t fall for sensationalized or fake news shared online. Read and share accurate updates with friends and family through The Hindu Editorial Vocab24 app. Download it today!
News Coverage in The Hindu Editorial Vocab24 App
Breaking News: Receive instant notifications on breaking news stories as they unfold. Stay informed about major events and developments in India and around the world with live blogs, news in shorts videos, and concise articles.
Politics: Get the latest updates on Indian politics, including elections, policy changes, government decisions, and political events that shape the nation.
Business and Economy: Stay ahead in the economic landscape with detailed business news and market analysis. Learn about stock market trends, financial reports, corporate news, and economic developments to make informed investment decisions.
Current Events: Follow stories on social issues, policy changes, global events, and daily current affairs, tailored for UPSC and other competitive exam preparations.
Technology: Keep up with the latest gadgets, innovations, and tech trends. Read expert reviews and analyses in short, concise updates on cutting-edge technology from India and beyond.
Sports: Never miss a moment of your favorite sports. Get live scores, match reports, and expert analysis on cricket, football, tennis, and more.
International News: Stay informed about global events and geopolitical developments, including the Russia-Ukraine war, Israel-Palestine conflict, and other key international stories.
Local News: Stay connected to your community with the latest updates on city events, issues, and local news. Coverage includes hyperlocal updates from cities like Bangalore, Chennai, Delhi, Hyderabad, Mumbai, Kolkata, and more.
Trending Topics: Discover what's trending today with the most talked-about stories and hot topics across India and the world.
Experience journalism that values integrity, accuracy, and reliability. Download The Hindu Editorial Vocab24 app today and stay connected with the world.
Subscribe to our newsletter!
