New Delhi, Aug 1 (KNN) Opaque subsidy regime and distorted factor prices make Chinese products cheaper than Indian good, MoS MSME Haribhai Parthibhai Chaudhary has said.

"The products manufactured in China are reportedly of lower price mainly because of their opaque subsidy regime and distorted factor prices," Chaudhary said in a written reply in the Lok Sabha.

He said this while responding to a question in why are the prices of domestic products higher in comparison to the products manufactured in China.

The minister said that the survival and growth of micro, small and medium enterprises (MSMEs) depends on a number of factors like availability of timely credit, upgradation of technology, infrastructure, access to market, quality of products, etc.

Further, in a reply to another question on whether Indian MSMEs are reportedly lagging behind due to availability of the products of multinational companies, Chaudhary said, "Competition from internal and external sources including competition from multinational companies is also one of the factors."