The tide seems to be turning
Although these are very early days, Indian manufacturing is gaining some competitive advantage over the unrelenting tide of imports from China. Low-end wares from across the Wall like toys, stationery, fabric and lighting fixtures are yielding market share to locally made products. The world’s factory is finding it increasingly difficult to flood overseas markets with cheap goods as wages, prices and the currency of the People’s Republic keep climbing. China is facing slackened demand at home and abroad, its export growth in April almost halved to 4.9% from a month ago and imports grew a mere 0.3% — down from 5.3% in March.