It is very important for a country’s economy that the local product that a country producing must be accepted by its local residents in order to boost the economy and to help the local industry to grow and put less burden on the import of certain products.
Local products are the goods which are produced within the boundaries of the country, the government of any country must boost up or encourage the local industries by putting less tax on the industries, the commercial units of utilities must not be so high that its burden which is taken by the owner of the company puts on the products.
When a company produces a product the price for that product is paid which is known as the cost in which the cost of workers involved in that production of that product, transportation cost and the adjustment of the utilities is set with the product price.
Those countries who produces their products locally and import less products can be benefited with the export of that qualitative products as well, once the people of your own country accepted your product and the government also helped you by not putting heavy taxes on the utilities and sales of the products you can send your products to other countries as well to earn more profit.
The primary obligation and responsibility of a company is to satisfy the needs of the country and produce enough and qualitative products for which consumer can pay happily.
In the international markets the goods from the different countries are offered each country’s products has its own feature some products has the qualitative feature some has the reasonable price.
When your local industries are collapsed it is a huge burden on the government to satisfy the needs of the resident of the country by importing the goods from international markets which can cost us heavily, the major portion of remittance of a country goes in the purchase of the products which can be easily produced in a country but due to less intention on the local industries the country suffers a lot.
When you take your products out of your country’s boundary you should make sure that you have provided enough satisfaction to your own country and now there is an excess of products which can be sold to other country to earn more profit, to compete in the world market and to increase the foreign exchanges for a country.