India: A Rising Star in the Global Chemical IndustryThe Indian chemical industry is experiencing steady, robust growth, with a goal to double its market share by 2030, driven by both local and global demand. This growth is further fuelled by the rising demand for specialty chemicals and sustainable materials. Foreign Direct Investment (FDI) and recent commitments toward the expansion of petrochemical complexes remain key drivers, alongside government support and demographic advantages. Together, these factors create an environment that enables foreign companies to leverage the industry, not only to meet local demand but also to serve as an export hub.Currently, the …
Building a Manufacturing Powerhouse: India’s Blueprint for 25% GDP Contribution
Building a Manufacturing Powerhouse: India’s Blueprint for 25% GDP ContributionThe Indian manufacturing industry currently contributes approximately 17% to the nation’s GDP and is poised to be among the fastest-growing sectors. With the potential to reach 920 bln EUR (1 trln USD) by 2025-26, manufacturing is becoming a cornerstone of India’s economic growth, driven by key industries such as automotive, engineering, chemicals, pharmaceuticals, and consumer durables. India is on track to become a significant global manufacturing hub, aiming to export around 20% of its GDP by 2030. The growth is driven by key factors including: Vision Viksit Bharat@2047: Prime Minister Narendra …
Global Manufacturing Footprint Stress Test
Global Manufacturing Footprint Stress TestIn today’s dynamic global market, manufacturers face a multitude of challenges that can erode their competitive edge. Geopolitical tensions disrupt established supply chains, forcing companies to reevaluate sourcing strategies. Shifting customer demands require rapid production adjustments, and rising labor costs combined with tightening markets squeeze profit margins. Additionally, fluctuating currency exchange rates and the implementation of tariffs add layers of financial uncertainty. These factors necessitate a comprehensive and regular review of existing manufacturing footprints.Beyond immediate costs, a fragmented footprint can also impede success. Organic growth plus Mergers & Acquisitions often lead to a complex network of …
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 …
Photonics21 Partnership Annual Meeting 2024 in Brussels: Photonics Industry Beat Global Trends
Photonics21 Partnership Annual Meeting 2024 in Brussels: Photonics Industry Beat Global TrendsMore than 220 high-ranking photonics representatives from industry, science and politics debated the future of light technologies, including technological sovereignty and the global photonics industry at the Photonics21 Partnership Annual Meeting in Brussels on 14 and 15 May. The Annual Meeting is one of the most important events for the European photonics community. EAC International Consulting was invited as a key note speaker.Daniela Bartscher-Herold, Founder and Partner EAC Munich, gave a presentation about political steering processes in China in core segments of photonics industry. The EAC study, commissioned by …
Charting New Frontiers: Exploring India’s Logistics Startup Ecosystem
Charting New Frontiers: Exploring India’s Logistics Startup EcosystemIn the dynamic landscape of a developing economy, logistics infrastructure stands tall as the backbone, facilitating seamless movement of goods and services. India, propelled by the Government’s steadfast commitment to infrastructure development, epitomized by initiatives like Gati Shakti and the National Logistics Policy, is prepared to accelerate its economic growth trajectory and emerge as a cost-efficient manufacturing hub on the global stage.At the heart of this transformation lies the burgeoning ecosystem of logistics startups, a testament to India’s vibrant entrepreneurial spirit and the growing interest in the sector. Over the past few years, …
The Indian Semiconductor Industry at the Cusp of Inflection
The Indian Semiconductor Industry at the Cusp of InflectionThe semiconductor industry faces significant challenges, including supply chain disruptions, localized talent shortages, and the constant technological demand for smaller chips. Despite these obstacles, in 2023 the industry generated a substantial 500 bln EUR in revenue. While this represents a 9% decrease from 2022, a strong recovery is underway and forecasting revenue to exceed 1.2 trln EUR by 2030. This growth will be primarily driven by the automobile, computing, and data storage sectors, which are expected to account for over 70% of semiconductor demand. Semiconductors are a vital cog in our day-to-day …
India Localization – Unleashing the Potential
India Localization – Unleashing the PotentialIndia’s growth story in the manufacturing sector has been driven by its billion-plus demographic and their rising spending acumen. Manufacturing sector in India today contributes 17% to the GDP and not only caters to domestic consumption but the meteoric growth in exports as well. This rise has turned global eyes towards India as a ‘China Plus One’ destination. Government Schemes and a well-developed manufacturing ecosystem have augmented the impact in attracting global firms to invest in India.India’s manufacturing ecosystem has developed over the last 10 years primarily due to the rise in demand clusters across …
Two Sessions of 2024: China’s Economic Outlook
Two Sessions of 2024: China’s Economic OutlookChina’s leadership has set a moderate growth target of “around 5%” for 2024 amidst a backdrop of considerable economic headwinds, signaling a steadfast resolve to transform the nation’s growth model. This target, announced by Chinese Premier Li Qiang at the Two Sessions meeting, underscores a commitment to stability and high-quality development despite the challenges of a troubled property sector, deflationary pressures, and a volatile global economic climate.Stabilizing Through Transformation and Emphasizing “New Quality Productive Forces” This year’s government work report emphasized the critical need for transformation in China’s economic growth model, focusing on structural …
Navigating the ‘New China Playbook’: Insights from CMS-EAC Seminar
Navigating the ‘New China Playbook’: Insights from CMS-EAC SeminarAmidst the ever-changing landscape of global business, the CMS-EAC Seminar convened industry leaders and experts at the German Centre to explore the intricacies of the ‘New China Playbook’. Against a backdrop of geopolitical tensions and evolving economic realities, the seminar provided a platform for robust discussions and insights into the challenges and opportunities facing foreign enterprises in China.The seminar commenced with a warm welcome speech, extending gratitude to esteemed panelists and attendees for their participation. Dr. Gang Yang, President of Trumpf China, and Mr. Ingarsia, CFO of Schaeffler Greater China, were among …
The Resurrection of Southern Europe
The Resurrection of Southern EuropeIn recent years, Southern Europe has emerged as a beacon of economic resurgence, with countries like Portugal, Greece, and Spain leading the charge. This revitalization stands in contrast to the economic landscape of Northern Europe, with robust growth rates exceeding 5% in 2022, a testament to the region’s resilience and potential. While challenges remain, particularly concerning the sustainability of the growth as well as structural impediments, the trajectory of Southern Europe’s economy offers a promising narrative of growth and transformation.One of the key drivers behind Southern Europe’s economic revival is the composition of its economy, which …
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 …
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