New Delhi, May 3 (SocialNews.XYZ) The people's trust in imported goods from China has collapsed in the last two years, according to the latest results of IANS-CVoter tracking survey conducted across the country.
There has been a steep fall in the fortunes of Chinese companies and goods as the survey shows that while back in 2018, 5.6 per cent people had no trust at all in Chinese goods, the number has jumped dramatically to 57.4 percent who have no trust at all in Chinese goods.
While in 2018, 25.8 per cent respondents said that they had no trust in Chinese goods, this number has more than doubled in 2020 to 62.6 per cent now.
On the flip side, those who said they had a lot of trust in these goods were much higher at 20.2 per cent in 2018 but have plummeted to only 5.2 per cent in 2020. Those having some trust have also almost halved from 46.9 percent to 20.2 percent in 2020.
It may be pointed out that there is a backlash against China globally following the coronavirus originating in Wuhan city and several countries are putting place a policy framework to erect fences against an Chinese companies wanting to acquire foreign companies at cheap valuations.
India has also notified a policy to protect against opportunistic takeovers of Indian companies as valuations have fallen and companies with origins in countries with which India shares a land border will have to seek government approval for every investment.
In comparison to Chinese goods, the survey shows that Made in India goods have shown an increase in net trust as the figure has gone up from 70.7 per cent in 2018 to 74.4 per cent in 2020.
The respondents who said that they had a lot of trust in Made in India goods have gone up marginally from 72.6 per cent to 75.9 percent.
Those who expressed some trust have however fallen from 21.3 per cent to only 15 per cent in 2020.
On the whole, while trust in Chinese goods has collapsed, the trust level in Made in India goods has gone up somewhat as per the IANS-CVoter tracker.
Source: IANS
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