I am amused to see every city in India has one famous grey market where we get goods at much cheaper than the original cost as it is not going through the right channel before reaching the grey market.
When I walk through these market,mostly pirated CD are prevalent everywhere.Then whatever latest gadgets from the best brands in the world,we can find it in the market by almost 10-30% less than the original market price with some tough bargaining.Only disadvantage is it is without bill,without warranty and if the product goes faulty,then you cannot approach the company service center but to get it repaired from a local nameless service center.Small items somehow they get into the market but I am amazed how they are able to give big gadgets like LCD,Plasma TVs to the market.
Again and again I hear people say that in these markets you can get from a small pin to a big Aeroplane but I must say that there is some truth in their words.
On the other side even when we buy from brand outlets,warranty is valid for one year after which if the product become faulty again we have no option of paying a hefty amount to get it serviced from a service center instead usually we get it serviced from a service center for a lesser cost.So these practical points pushes some of the population to buy from the local market.
Even I have some experience with People from the branded companies saying that Grey markets are loss to the subsidy of the brand in that country but these markets contribute major chunk to the parent company as somehow it is bought somewhere in the world from the parent company.So Grey markets are beneficial to the parent company.When Guests come from the parent company,Grey market visit would compulsorily part of their travel itenary.
Some of the grey markets I have seen are burma bazaar in chennai,pallika bazaar in delhi.Hope sometimes you will get amused with a visit to Grey market near to your place.