Preference to local over imported goods is increasing in recent times. This essay will discuss the reasons and nature of this trend.
There could be many reasons for people choosing local. One of the reasons is that the purchasing power has declined in the last few decades. As local products are made in the same country, they are exempt from the import charges unlike others making them cheaper and affordable. Also, local commodities give a sense of pride towards the nation to certain individuals. These reasons make local products the first choice.
In my opinion, the trend is advantageous to the government and some of the regional businesses. The government has always supported this change of mindset cause importing goods implies that the country must give money to others in exchange for the product. Hence, it is better for the economy to sell local. Moreover, the regional businesses benefit as they are selling the goods.
For instance, India had come with a campaign of, “Buy local, sell local”. This campaign promoted this mindset of avoiding global commodities in order to strengthen the economy. Consumers were convinced to buy from their nearby sellers as it was promoted heavily on televisions and newspapers. It was a great success, and the nation showed a 20% growth in that year. The nation hopes to continue its journey and be an example at an international level.
To conclude, reasons like pride and affordability have been at its core when we see such type trend and it has been beneficial for the countries and the companies in terms of the money.