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“India Auto Parts Manufacturers Association predicts that by 2015, the potential turnover of automotive parts and components related to the automotive and auto parts market in India will reach 40 to 45 billion U.S. dollars, making India an important global automobile and component. market."
In the coming years, the Indian government will invest hundreds of millions of funds for infrastructure construction, which will provide a lot of opportunities for the development of Chinese companies in India. Data from the Federation of Indian Industry shows that in 121 manufacturing industries, 41 industries are expected to grow by 20%, especially in the air conditioning, tractor, fertilizer, construction equipment and tire industries. The Indian government has implemented free approval procedures for foreign investment in its engineering industry and has offered tax incentives for related imported equipment.
Ernst & Young's data shows that in 2011, foreign investment in India's renewable energy sector increased by 105%. The construction of roads and expressways in India has also developed rapidly. The development of the real estate industry has provided foreign investors with huge investment opportunities. According to a report published by PricewaterhouseCoopers, “The Emerging Trends of the Asia-Pacific Real Estate Industry in 2011â€, it is a good choice to invest in real estate in Mumbai, India, and New Delhi in 2011. China and India have very strong complementarities in their comparative advantages in the international market. China and India are both the fastest growing countries in the economy and large energy demanders, and have a greater dependence on overseas oil and gas resources. With the deepening of the strategic cooperation between the two countries, the pace of strategic cooperation in the energy sector between China and India is also gradually increasing.
The accelerated development of India’s entire industry has further driven the traditional industries such as cotton and linen textiles, sugar refining, oil extraction, and tobacco production to the emerging industries of chemistry, energy, machinery and electronics. In recent years, the size of the automobile and motorcycle industries in India has rapidly expanded, stimulating domestic consumer demand for automobiles, motorcycles and parts, machine tools, and the electronics industry; China and India have great similarities in the low-end traditional chemical trade. Qualitatively and competitively, India’s trade in chemical products with China has been in a deficit, which can easily lead to trade frictions; India’s power supply can hardly keep up with its economic development, large-scale blackouts have become normal, and domestic power generation equipment manufacturers can’t meet growing demand. The market demand, power generation equipment market has great potential. However, in order to reverse the trade deficit with China, the Indian government is planning to impose high tariffs on power equipment from China. This should cause us to pay high attention.
In short, whether it is India's traditional industries or emerging industries, there are huge market development opportunities for Chinese companies.
February 20, 2019