Prima facie, the relations between India and China might have started settling like ashes after a fire but no one can deny the underlying tension that can erupt this volcanic association anytime. Notably, India has gone a step ahead by banning mobile apps that have originated in China citing their activities “prejudicial to sovereignty and integrity of India, defence of India, security of state and public order”, as the press release read.
Indian citizens too, are fully on board with boycotting anything produced in China.
But how does this look for smartphone buyers in the country? Indisputably, any phone in today’s world has at least one part of it, made in China. Will this stop smartphone buyers in India from purchasing their most featureful brand in this ocean of Chinese phones? There are NBFCs that enable any person to buy a mobile on no-cost EMIs with minimal or almost no documentation and a KYC. The cherry on the cake is the availability of some of the best smartphones under 20k in Indian market, which makes it very affordable for anyone to have prime features in their phone at a lesser cost.
The fact remains that the behavioural change of boycotting anything cannot happen by itself when there are monetarily-enabling factors to support a purchase such as a smartphone, in this case.
The Gen Y & Z are smartphone savvy. In simpler words, this generation has smartphones as an integral part of their lives. Right from their shopping to their finances, their groceries to their medicines, everything is handled via smartphones. NBFCs take advantage of this and encourage the have-nots by pushing them into the action state of “awareness, interest, desire and action”. To exemplify, Zest Money’s process of no-cost EMI lending is as simple as signing up with them (either through the website or through the mobile app), uploading KYC documents and activating self’s credit limit and finally paying in the form of Zest Money no-cost EMIs.
In a local survey conducted with 100 college-level graduates and job entry-level professionals, the results were not surprising when people agreed to replace their existing smartphones with new best smartphones under 20k through these hassle-free, no-cost EMI schemes.
To sum it up, as long as we have NBFCs and banks taking care of our finances, there doesn’t seem to be any decline or hindrance in spending on smartphones – be it Chinese or Indian.
