As Indians, we need to step away from goods with Chinese origin.
By buying these goods we are funding our own slavery. Learning from history is important, China has always tried to be dominating over India and this is not going to change. They have proved that they are barbaric by killing Tibetans and will not hesitate from doing it again. Today's China is rich, powerful, plays significant role in world politics and flexes it's muscles now and then. It has strategic alliance with Pakistan with only one intention, "Do away with Indians."
Don't fund your enemy who is looking for an opportunity to either rule you or kill you and has the capability of doing both. In face of attack by China, i doubt if any other country will come for India's rescue. Russia, USA, Europe nobody can afford to go against China. Moreover, China aids Pakistan and we all know what Pakistan does.
Looking into the financial aspect of it, China has MOQ (Minimum Order Quantity), which is mostly large quantities. More you buy, cheaper it is. Since Indian banks shy away from giving loans, MNC's are partying. They have deep pockets supported by their banks, they buy Cheap goods from China and dump them into third world markets (Read India and Africa). In the meantime these MNC's make huge profits and still get to be the masters of international trade. India looses hard to come by foreign currency and it's own industries are dying.
Looking at the bigger picture, this planet only has so many resources. China uses these resources and makes the cheapest possible finished good out of this. These products are not designed to last and this is their strategy. You will buy new stuff as soon as your older one is gone. Consumerism is fueling China's growth. It is the biggest wheel in converting this planet into a garbage dump.
Not everyone in the world is blind to this plight. Today, the rest of the world (Europe & America) is looking at India to provide solution to this problem by making inexpensive goods that last. Be part of this revolution and say no to China.
Don't be cheap. By being cheap you will save a few bucks from your expense but you won't have a planet left to give to your child.