Global Sources

India importers are looking to China manufacturers more and more to fight rising costs, according to dual surveys released by trade publisher and trade show organizer Global Sources (NASDAQ: GSOL). The surveys, conducted in July and August, tracked the views of thousands of volume importers and purchasing managers who supply India’s retail distribution channels.

The surveys focused on consumer electronics and hardware and building materials – two of India’s fastest growing segments.“As India’s economy continues to expand, Indian consumers have more disposable income to spend on luxury goods like consumer electronics,” said Bill Janeri, General Manager at Global Sources.

“Indian consumers want the next hot electronics gadget. Or a new large-screen LCD television. And retail distribution channels in India are better able to supply this demand than ever before, with a wide selection of quality, affordable products.”“At the same time, India’s construction boom is driving the need for more and more building materials and hardware products. Because of the volumes required by some of India’s property developers, many are importing these building materials directly from China,” Janeri added.Last year, China became India’s largest trading partner – overtaking the United States.

While Indo-US aggregate international trade is expanding by 23-24% annually, India-China trade grew at 50% during 2002-2006 and increased by 54% during 2007 to reach $37 billion.