Should producers such as Ravi stop production because their cost of production is higher compared to producers in other countries? What do you think?

In a market which is flooded with products at a price lesser than Ravi’s product, definitely Ravi would have difficult time selling its product. In such situation either Ravi must go for technological upgradation or switch to products where there is manageable level of competition. In both the above situation, he has to do capital investment for which either he will go for personal saving or will require government support via subsidized loan raising.