India’s Union Budget – Viksit Bharat @ 2047India’s Union Budget 2024-25 has set the extended roadmap to achieve the vision of ‘Viksit Bharat’, a developed nation by 2047. The budget highlights 9 priority areas which not only aims for inclusive growth that benefits all segments of society but also lay the groundwork for an innovation-driven economic developmentBudget 2024-25 has unveiled multiple investment opportunities to enhance domestic value addition across strategic sectors including EVs, semiconductors, electronics, solar cells, lithium-ion batteries, medical equipment, shipbuilding, and more It’s imperative to critically evaluate these opportunities to derive relevance to your business interests in India. …
China’s Evolving Consumer Landscape – Challenges and Opportunities for German Businesses
China’s Evolving Consumer Landscape – Challenges and Opportunities for German BusinessesThe German Chamber of Commerce in China (AHK) recently published an insightful article in their Summer 2024 Ticker magazine, exploring the dynamic landscape of China’s consumer market. While the market’s power remains undeniable, with consumer spending driving China’s growth, understanding the ongoing transformations is crucial for German businesses to thrive.The article features valuable insights from EAC Partners‘ Daniel Berger and John Deng, offering practical guidance for German companies. Their expertise can be invaluable for those looking to capitalize on the „New Normal“ in China.The report highlights the rise of local …
The Latest US Tariffs on Chinese Goods
The Latest US Tariffs on Chinese GoodsTariffs Targeting China Announced by the Biden Administration The Biden administration has announced an increase in tariffs on USD 18 billion worth of Chinese imports. This action is part of a broader strategy to protect American industries and workers.Tariff Increases Range from 25% to 100% The new tariffs, ranging from 25% to 100%, target key industries and aim to shield American businesses from cheaper Chinese alternatives: Steel and Aluminum: The tariff rate on certain steel and aluminum products will increase to 25% in 2024. This measure is designed to support the US steel industry, …
German FDI Targeting China on New Heights
German FDI Targeting China on New HeightsGermany’s financial engagement with China has soared in recent years, reaching a record of approx. €12 billion in Foreign Direct Investment (FDI) from Germany to China last year, as a recent study form the German Economic Institute shows. This investment trend underscores the complexity of the relationship between the two economies, as German companies seek to capitalize on China’s vast market despite government calls to reduce dependence.Investment in China has raised concerns in Germany and across the European Union. The German government has urged large companies to reduce their reliance on China, citing the …
China Outlook for 2024: A Perspective from German Companies
China Outlook for 2024 A Perspective from German CompaniesIn the latest Business Confidence Survey (BCS) conducted by the German Chamber of Commerce in China, findings reveal a complex landscape of opportunities, challenges, and strategic shifts among German businesses operating in China. Conducted between September and October 2023, the survey engaged 566 member companies, offering a comprehensive insight into the German business sentiment within the Chinese market.Despite a slower-than-expected economic recovery with 52% of German companies that have been surveyed stated a decline in their industry, China’s importance to the German economy remains undiminished. As Germany’s most important trading partner for …
Navigating the Skies: An Overview of the Thriving China Aviation Industry
Navigating the Skies: An Overview of the Thriving China Aviation Industry In recent decades, the China aviation industry has soared to new heights, transforming itself into a global powerhouse. Marked by remarkable growth, strategic investments, and technological advancements, China’s aviation sector has become a key player in the global aerospace arena. This overview will delve into the important specifications of the China aviation industry, exploring key factors that have fuelled its rise and examining the industry’s impact on both domestic and international fronts.Aviation Industry Clusters in China: A Symphony of Innovation The aviation industry in China has witnessed significant growth …
Charting China’s Course: A Journey Towards Openness
Charting China’s Course: A Journey Towards OpennessIn 2023, China witnessed a commendable growth in its Gross Domestic Product (GDP), achieving a 5.2% expansion for the year. This growth not only aligned with the government’s annual target but also showcased a robust performance, especially in the fourth quarter, where the year-on-year GDP surged to 5.3%, surpassing the 4.9% recorded in the third quarter. Despite these positive indicators, the Chinese government is gearing up to provide additional support to its economy and trade in 2024. In this EAC Executive Briefing, we will delve into the significant developments that unfolded in the latter …
The Future: India’s Construction Equipment Industry thrives on Sustainability and Innovation Trends
Building the Future: India’s Construction Equipment Industry thrives on Sustainability and Innovation TrendsThe construction equipment industry in India is about to undergo a significant transformation. An expanding economy, rising urbanization, and large-scale infrastructure projects have all contributed to an increase in the need for construction equipment. The industry recorded the sales of 107 thsd units in FY’23 and is expected to grow at 7% CAGR during FY23-30. It is world’s 3rd largest market and is currently valued at 6.1 bln EUR with earthmoving equipment segment being the majority contributor at 72% share.Key Growth Drivers: Infrastructure Development Projects: Large-scale government initiatives …
China Trade 2022 – Mutual Dependency instead of Decoupling
China Trade 2022 – Mutual Dependency instead of DecouplingDespite fundamental changes in the relationship of China with the rest of the world, there is a very different sentiment when it comes to consumption patterns and purchase decisions. In 2021, China traded more with the rest of the world than ever before. We shed light on some key attention points.Six trillion USD in export and import value shows that China remains deeply connected with the global economy. Pushed by demand from the EU and US, the country recorded its biggest trade surplus to date. Consumers in both Europe and North America …