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. …
Empowering Businesses to Thrive in a Dynamic World
Empowering Businesses to Thrive in a Dynamic WorldBreakthrough innovations like Artificial Intelligence are fundamentally reshaping the global landscape. Automation, robotics and sustainable practices are addressing critical challenges like labor costs and environmental impact, while industry-disrupting technologies are paving the way for a new era. At EAC International Consulting, we understand that in this ever-evolving world, innovation is the cornerstone of excellence.China’s ascension as a global manufacturing powerhouse is undeniable. However, to maintain this momentum amidst economic fluctuations, urbanization, and demographic shifts, a strategic shift is crucial. This is where innovation steps in as the leading force for industrial transformation, driving …
ASIAN EXHIBITION INDUSTRY GROWTH IS HERE, BUT SHOULD YOU GO THE ORGANIC/ INORGANIC ROUTE?
ASIAN EXHIBITION INDUSTRY GROWTH IS HERE, BUT SHOULD YOU GO THE ORGANIC/ INORGANIC ROUTE?The exhibition market is booming, fueled by a global surge in demand across various sectors. This growth is driven further by the significant contributions from key industries like renewable energy, AI, infrastructure, automotive, and manufacturing – all witnessing a surge in global investments. Globalization also plays a crucial role as companies expand their reach into new markets and regions, increasingly turning to exhibitions as a powerful B2B marketing tool to showcase their products and services.Leading Messen Global Expansion Strategies: Leading trade fair organizers are pursuing a two-pronged …
Outlook for European Businesses in China
Outlook for European Businesses in ChinaBusiness Sentiment Among European Companies in China The European Chamber of Commerce in China’s (EUCCC) latest Business Confidence Survey reveals a year of mixed sentiments for European businesses in the wake of China’s reopening post-COVID-19. Despite the initial optimism spurred by the lifting of pandemic-related restrictions, several structural issues and regulatory challenges have tempered expectations. This article delves into the survey’s findings, shedding light on the current business climate and the outlook for European firms operating in China.Economic Challenges and Geopolitical Animosities Pressure Foreign Companies in China In 2023, European businesses in China faced significant …
Navigating the EV Market Shift in China
China’s Unrivaled Position in the EV LandscapeThe electric vehicle (EV) market in China continues to redefine the automotive industry’s future. In 2023, China solidified its position as a global leader by accounting for nearly 60% of worldwide EV sales (measured in car registrations), a significant indicator of its growing dominance, according to data from the International Energy Agency’s (IEA) Global EV Outlook 2024, a Paris-based autonomous intergovernmental organization. This trend is not just a fleeting phase but a clear signal of the shifting dynamics in the global car market, with projections showing that one in three cars in China will …
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 …
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 …
Quo Vadis? Snapshot of the pharmaceutical industry in Germany
Quo Vadis? Snapshot of the Pharmaceutical Industry in GermanyHigh electricity and gas costs have impeded growth in the German pharmaceutical industry. But now, for the first time in over two years, the gas price went to its level of 2021 as it went below 30 Euros per megawatt hour in March 2024. High electricity and gas prices have been hindering growth in the chemical and pharmaceutical industries as they depend highly on energy for their operations.The adoption of a comprehensive pharmaceutical strategy by the federal government in December 2023 has instilled newfound optimism among industry players, signaling a renewed commitment …
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 …