India’s sheer scale and geography have for decades attracted countries such as Japan and Korea to boost trade and nurture business relations. China too has plans to follow suit
In 2009, Masanori Kondo, then representative for GDN-Japan and Director of the Japan India Association, in an interview with BW Businessworld, had said, “Five years ago, many Japanese companies disapproved of Korean companies in India, who were losing money on their investment but are getting some legal support from the Indian government. We now know that Korean companies did what was needed to be done, and that we are far behind. So, the Japanese are gradually adjusting in India.” And adjust they have. Japanese brands invested $4.7 billion in 2016 in India. And Korean companies, for their part, will invest $2.5 billion-3 billion over next 3-5 years. In fact, between Japan and South Korea, there are 2,400-plus subsidiaries actively registered in India generating over $30 billion in annual revenue from the Indian markets. They are today an essential component in India’s GDP growth, contributing over 10 per cent to the Indian economy.
A bid to join the party are the Chinese brands and companies. China already dominates as India’s trade partner in terms of share of imports and exports over Japan and Korea, and now Chinese brands, particularly in mobile handsets, have begun to give competition to both Japanese and Korean products. Sample this: in 2015, China was the 4th largest export destination at $9.5 billion. The same year, China was the largest import partner country at $61.5 billion. For India though, all these means more choices, more employment and a sustained growth in its manufacturing and export base.
Slowly And Steadily
Esta historia es de la edición July 22, 2017 de Businessworld.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición July 22, 2017 de Businessworld.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Gauging Trumponomics For India
Despite some shortto mediumterm headwinds in trade and immigration, the broader Indo-US vision of counterbalancing China’s influence is expected to ensure continued cooperation under Trump 2.0
Reflections on Consciousness and Creation
Indian-American DEEPAK CHOPRA on the nature of the universe, the digital fabric of existence, and the power of a conscious mind
MORE TAKE TO DRIVING IN STYLE
High-end luxury vehicles are no longer part of a niche market, but a rapidly expanding segment of automobile sales, driven by changing consumer preferences, rising disposable incomes and better infrastructure
India's Growing Affinity for Swiss Watches: A Luxury on the Rise
NDIA'S ROBUST ECONOMIC growth, projected to exceed 6 per cent in 2024 and 2025, is fostering a rising demand for aspirational products. As disposable incomes increase, particularly among the expanding middle class, luxury goods such as Swiss-made watches are gaining popularity.
An ENRiching Outlook
KPMG's latest report shows energy CEOs being optimistic about the sector's outlook. ANISH DE, Global Head, ENRC, KPMG speaks to BW Businessworld's Arjun Yadav on what's driving this confidence
Paving the Path to a Sustainable Future
Salesforce's ESG journey has made an impact beyond the company. SUNYA NORMAN, SVP of ESG Strategy and Engagement at Salesforce, shares more on how the tech giant integrates sustainability into its core operations, supporting global goals while empowering employees
LEADERSHIP TRANSITION AT XIAOMI INDIA
Xiaomi India is experiencing a leadership evolution, beginning with Muralikrishnan B's departure as President by the end of 2024. This change underscores Xiaomi's shift towards nurturing local talent amidst dynamic global shifts. The story tracks key transitions from Manu Kumar Jain's leadership to Muralikrishnan B's impactful tenure, along with recent strategic hires, highlighting Xiaomi's alignment towards market adaptability and consumer focus
WEAVING SUSTAINABILITY
Once a modest home textile manufacturer, Jindal Worldwide has evolved into a vertically integrated textile powerhouse, spanning critical segments of the yarn and fabric value chain
FORCE FOR GOOD
FY24 saw capacity expansions for Century Enka in nylon and polyester segments, along with investments in modernisation, renewable energy, and safety initiatives
REIMAGINING TOMORROW
For V-Guard, tomorrow signifies progress, driven by today's actions, setting the foundation for future growth and value creation for all stakeholders