If you are a gamer then you really want to know why graphics cards are expensive especially in India. Though in markets like Kuwait, Saudi Arabia, Malaysia, Canada, United Arab Emirates, Qatar, Japan, USA & Australia you will find technology price at cheapest level possible.
So why it becomes expensive when it comes to India. Well, there are many reasons right now so let's figure out all those reasons from small to big which making every gamer life into hell.
For example:-
If a Graphic card is: 379$ in Canada
Shipping charges around 10$
Custom Duties around 72$
Total Cost: 352$ (23500 INR)
Now Seller also adds their profit about 2000-2500 Rs so graphics card will become around 25000 INR.
Now ASIC-based mining is the best but it is also expensive. CPU mining is slow so people moving towards GPU based mining at the decent price.
Though bitcoin mining is almost dead because there is no profit in it now. So all miners are moving towards another cryptocurrency like Ethereum, Zcash etc. But the problem is that these currencies can't be mine using ASIC based mining equipment. because ASIC based mining only works with bitcoin and they don't find profit in it. unless their hashing power is too high.
So for the Ethereum cryptocurrency, they are buying graphics cards in bulk and emptying the market for gamers.
Like rules of economics if demand is high and supply is low products automatically becomes expensive. But if supply is high and demand is low product price reduces. So right now demand is high because of miners and they don't care about the graphics card price because they want to invest their money. So they will buy even if you make graphics card 1000$ expensive if they see the profit they will go for it.
As you can see it is affecting most of the AMD graphc card like 480 series, 580 series, r9 290x you can't even find it in the market. Even if you found it will be selling at triple of its actual price.
Some news also came that RBI will ban cryptocurrency from India because it's untraceable currency. Right now they have announced that no one can use bitcoin for payments and settlements. In future, they might announce cryptocurrency illegal from India because it will increase black money.
Why Graphic Cards are So Expensive in India?
As I said there are a couple of reasons so let me highlight all those reasons in the simplest way possible.1. All These Cards comes from foreign countries.
As you know India doesn't manufacture electronic components. So what they do they ship all these graphics cards from manufacturing countries. When an importer buys these graphics cards they have to pay shipping cost + customs duties which increase the price of the components.For example:-
If a Graphic card is: 379$ in Canada
Shipping charges around 10$
Custom Duties around 72$
Total Cost: 352$ (23500 INR)
Now Seller also adds their profit about 2000-2500 Rs so graphics card will become around 25000 INR.
2. Cryptocurrency Miners are buying GPU in Bulks
Actually a few months back people were mad about bitcoins and they used to mine that using GPU. it is also known as GPU mining. Actually, there are 3 types of mining CPU based mining, GPU based mining and ASIC-based miners.Now ASIC-based mining is the best but it is also expensive. CPU mining is slow so people moving towards GPU based mining at the decent price.
Though bitcoin mining is almost dead because there is no profit in it now. So all miners are moving towards another cryptocurrency like Ethereum, Zcash etc. But the problem is that these currencies can't be mine using ASIC based mining equipment. because ASIC based mining only works with bitcoin and they don't find profit in it. unless their hashing power is too high.
So for the Ethereum cryptocurrency, they are buying graphics cards in bulk and emptying the market for gamers.
Like rules of economics if demand is high and supply is low products automatically becomes expensive. But if supply is high and demand is low product price reduces. So right now demand is high because of miners and they don't care about the graphics card price because they want to invest their money. So they will buy even if you make graphics card 1000$ expensive if they see the profit they will go for it.
As you can see it is affecting most of the AMD graphc card like 480 series, 580 series, r9 290x you can't even find it in the market. Even if you found it will be selling at triple of its actual price.
Some news also came that RBI will ban cryptocurrency from India because it's untraceable currency. Right now they have announced that no one can use bitcoin for payments and settlements. In future, they might announce cryptocurrency illegal from India because it will increase black money.
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