Is "Made in China" fit for India?

I won't call China an innovator in the electronics markets. What they have is a huge bunch of people willing to work for peanuts so that they can be exploited by profit minded corporations in USA and the rest of the world. That's why you see 'Made In China' tag on almost anything. Resources wise - India's got more variety than China. But China will beat India any day in 'human resources' (I don't like the phrase, but that's how corporates treat humans; as 'resources').

Are these products 'good' for India (all factors included)?

I'll talk only about the economy. Save all the buzzwords - India's economy can only grow if the exports grow - provided all the India's own requirements are met first. That will be possible only when India becomes a 'manufacturing' powerhouse and not a 'services powerhouse'. India used to have 33% of world's exports a few hundred years ago and thanks to the idiotic 'globalization' by the economist Man Mohan Singh that it's fell down to under 1% now. That's now how you make your economies grow.

Chinese goods are no good for India. Why import Diwali lamps from China when you can produce them cheaper here in India itself so that India's wealth stays with itself?

Needs a deep thought!

Thats exactly the point. Globalization was introduced to bring in $$. What it actually did was degraded the ₹₹. Apart from that, free neighbor trade along the borders is the main culprit. They have offered the consumers in a free plate and china didn't seem to back off without taking its undue advantage.

I like made on china products because it produces products which are good(i dont say it produce cheaper products because when we compare prices of other branded products it seemed to be cheap.).
On the other hand some products are not healthy as some producers produce toys which use toxic materials.

Even India have the same story.They produce best products but people dont accept it as it does not have a brand name and people are converted to "Status followers".

They have less durability/quality as compared to Indian or any other product. For sure they have made a wide range of products. They on the other hand are focusing on selling maximum units possible. They dont care if half of them are even in working condition or no. I dont think they have anything called Consumer Protection in their policy.

Chinese products lack quality and durability this they compromise with low cost

Indians Lack future thinking they don't realize that they are paying higher price for the same product in the long run

Guess that you are using a Chinese lamp set costing Rs100 This lasts for about 250 hours

Another company in the market offers the same for Rs300 But they last for nearly 1000 hours

Indian mentality makes us to buy the first product though we actually pay more in the long run