Calls for boycotting China products are resonating in countries such as India, the Philippines, and Vietnam. The most important reasons for boycotting China products are low-quality products, territorial conflicts, and also China government’s mismanagement of the COVID-19 pandemic. Hence in this blog, we will be discussing the top Manufacturing Business ideas to replace china products.
Image Credits : CNBC TV18
COVID-19 has brought a unique opportunity for India. China’s weakened position in the global scenario is actually a “blessing in disguise” for India. This is the right time for Indians to enter into the Manufacturing business and replace China products.
To encourage companies to manufacture in India, The government of India has already initiated growth-oriented policies such as the reduction in corporate tax, lessened bureaucratic interference, development of logistic support such as modern ports, and increased connectivity through world-class highways.
Here Are Some Top Manufacturing Business Ideas To Replace China Products
1. Electronic products:
Electronics import is 32% of India’s total imports from China which stood at $65.26 billion in 2019-2020. The government is finalizing a proposal to set up an electronics commission in the country to push electronics manufacturing as it eyes reducing its import dependence on China.
Here are some manufacturing business ideas in the electronics sector :
- Earphones
- Bluetooth speakers
- Smartwatches
- Calculator
- Power bank
2. Indoor lights and lightning Accessories :
The Indian LED lighting market is estimated to be Rs 10,500 crore, growing at 10-12 percent every year. Now Indian LED makers are requesting the government to ban Chinese lighting product imports to India saying Chinese lights are inferior in quality and hence priced significantly cheaper.
Here are some of the Indoor lights and lighting accessories you can manufacture :
- LED bulbs
- Ceiling lights
- Bulb holders
- Decorative lights and party lights
- Torches
- Rechargeable bulbs
3. Plastic items :
India has imposed anti-dumping duty on china bottle-grade PET (polyethylene terephthalate) resin-used to make bottles and jars for mineral water, carbonated soft drinks, and pharmaceutical products among other good-to offset the damage to the domestic industry.
Here are some of the top Manufacturing Business Ideas in the plastic industry to replace china products:
- Plastic beverage bottles
- Plastic grocery bags
- Food wrappers
- Straws
- Takeaway food containers
- Takeaway coffee cup
4. Toys :
The quality of toys China came under the international scanner due to the presence of excessive levels of lead paints and other contaminants. This gives plenty of manufacturing business ideas in toy industry for Indian manufacturers to grab the large markets at the global level and also in the internal market.
5. Chemicals :
China has planned to close chemical plants for environmental and safety reasons due to the high polluting and energy-intense nature of chemicals. Recent safety crackdowns and environment inspections are sending shockwaves through the Chinese chemicals sector. Such factors are prompting purchasing managers in the US, Europe, and Japan to give India another look as a source of chemical products.
Here are some of the manufacturing business ideas in the chemical industry that replace China chemicals:
- Organic chemicals
- Fertilizers
- Pesticides and insecticides
- Specialty chemicals
6. Electrical Machinery:
In the fiscal year 2021, India imported electrical machinery worth more than 2.3 trillion Indian rupees. There was mostly an increasing trend in the value of imports in this sector from fiscal year 2011 to 2020. Here are some of the manufacturing business ideas in this sector
- Electric generators
- Electric motor parts and accessories
- Electrical wires and cables
- Switches
- Batteries
- Transformers
- Circuit breakers and fuses
7. Iron and steel items:
Iron and steel items imported from china to India was US$1.23 Billion during 2020, according to the United Nations COMTRADE database on international trade.
Some of the best iron and steel items you can manufacture:
- Tubes and pipes
- Screws, Bolts, Nuts, Coach screws, Screw hocks, and rivets
- Rods, bars, Hot rolled, of other alloy steel
8. Diodes, transistors, and similar semiconductor devices:
India imports from China of diodes, transistors, and similar semiconductor devices was US$1.42 Billion during 2020.
9. Bulk drugs and intermediates:
India imports 68% of its bulk drugs from China. In order to reduce the dependence on imports for API, the Indian government has formulated a scheme for “Assistance to the bulk drug industry to common facility center” to encourage indigenous manufacturing business of drugs by the states.
10. Networking devices:
A network device is a node in the wireless mesh network. It can transmit and receive wireless HART data and perform the basic functions necessary to support network formation and maintenance. Network devices include field devices, router devices, gateway devices, and mesh hand-held devices.
The rise in internet users has increased the demand for:
- Wifi router
- Server parts
- Modems
- LAN cable
- Dongle
The call to boycott china products began after a fatal border clash between the 2 countries in the Galway valley in eastern Ladakh on June 19. The people of India have already taken a step forward to support made in India products. For an economically independent India, we need to create products that are made in India, made for India, and also made for the world.
India is the biggest and the fastest-growing market in the world for the majority of the product categories hence this is the right opportunity for entrepreneurs to conquer the market by replacing china products.
To help new entrepreneurs to enter into manufacturing business. At the same time, Govt. of India has initiated campaigns like “Make in India” and “Atmanirbhar Bharat” (Self-reliant India) by saying “Vocal for local” which urges Indians to support made in India products and boycott china products.
Are you looking to start manufacturing Business?
Are you a new entrepreneur planning to start a manufacturing business or an existing industry planning to diversify into a different sector of the manufacturing industry? Are you looking for the best manufacturing business ideas that can guarantee you profits in the future? Do you want to know how to start a manufacturing business? If yes, then kindly register with SolutionBuggy and get the top manufacturing business ideas from manufacturing consultants. Our industry experts will help you in setting up any kind of manufacturing industry by addressing your requirements right from product identification, market research, detailed project report, product development, business development, complete turnkey solution, Bank loan and subsidies, etc.
Yes, we provide all the services required to setup a manufacturing industries right from product identification till sales and marketing of your products.
There are plenty of best sectors in manufacturing business, Some of them are: Food processing sector, chemical sector, FMCG, pharma, electronics etc
The budget required to start a manufacturing business varies depending on the product that you choose to manufacture
The government is taking several measures to encourage micro, small and medium scale enterprises in the country. Revising the definition of MSMEs, subordinate debt for stressed MSMEs, equity infusion through Fund of Funds, disallowing of global tenders, collateral-free automatic loans, etc. are some of the latest initiatives taken by the government towards MSMEs.
Yes, we will help in product identification. We suggest you the best product to manufacture according to your budget and location.
This post first appeared on Get Double Benefits By Implementing Lean Manufacturing And Getting 80% Subsidy On It., please read the originial post: here
