France
(Source : Embassy of India, Paris)
Significant Trends in trade and investment
Trade – In Jan 2018, India France bilateral trade stood at € 868 million (+26.92%) as compared to the corresponding period the previous year. India’s exports to France increased by 20.64% during this period with a rise in exports of following top 10 category products: mineral fuels & oils (1568.04%); nuclear reactors, boilers, machinery and mechanical appliances (32.76%); footwear (22.63%); knitted or crocheted articles of apparel & clothing accessories (18.79%) & non knitted or crocheted articles of apparel & clothing accessories (9.71%); animal or vegetable fats and oils and their cleavage products; prepared edible fats; animal or vegetable waxes (1463.95%). However there was a drop in exports of & organic chemicals (-3.48%) articles of leather (-9.86%). automobiles and parts (-7.66%); & electrical machinery (-29.38%);
Meanwhile, French exports to India increased by 37.04% during the same period: Exports of following top 10 ranked products increased: nuclear reactors, boilers, machinery & mechanical appliances (324.59%); optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus & parts thereof (54.77%); miscellaneous chemical products (4.99%); organic chemicals by (2.39)%; pharmaceutical products (3.55%) & plastics and articles thereof (20.39%); & articles of iron & steel (95.30%). However, exports of electrical machinery & equipment fell by -4.36%% ; iron & steel by -50.71%, & aircraft & spacecraft (-35.33%);.
Investment – According to statistics released by Business France, “There are over 150 Indian companies operating in France, where they employ more than 7,000 people. Eleven new investments from India were recorded in 2016, creating or maintaining 171 jobs. Indian investments in France in 2016 were often in high value-added activities, particularly R&D and engineering (36%), decision-making centres (27%), including a European headquarters, and business services (18%). Investments came in a variety of sectors, including software and IT services (18%), energy and recycling (18%), aerospace, naval and railway equipment (18%), and textiles and clothing (18%) sectors. Indian companies invested primarily in the Auvergne-Rhône-Alpes (27%), Ile de France (Paris region) (27%) and Bourgogne Franche-Comté (18%) regions. Selected investment projects in 2016 were from:
Royal Enfield [in 2016 this Indian firm announced that it would be establishing its pan-European headquarters in Paris (Ile de France region), with the opening of a concept store in Levallois-Perret]. Guesswork [a winner in French Tech Ticket, season 1, this Indian start-up markets a mobile app that helps small online retailers connect with customers. Guesswork won a one-year residency for 2016 in the Startup42 business incubator in the Parisian suburb of Kremlin-Bicêtre (Ile de France region)]. Etosha: [this specialist in flavours, fragrances and essential oils for agri-food, personal care (deodorants, perfumes and soaps) and homecare (detergents) recently established a French subsidiary in Grasse (ProvenceAlpes-Côte d’Azur region) that will create 10 jobs over the next three years]. Dymond Cleantech: [a winner in French Tech Ticket, season 1, this Indian start-up has developed an electrochemical water purification technology based on diamond electrodes. In 2016, it was resident in the La Paillasse business incubator in Paris (Ile de France region), where it had co-working space and access to coaching sessions].
Thailand
(Source : Embassy of India, Bangkok)
Indian market on uptrend
Post Today 26.03.2018
Jittima Nakamano, Director of the Thai Trade Center in Chennai, revealed that the center has set the target for the value of trade between Thailand and India at 7%-8% growth for 2018 ($10 billion in 2017) as India is growing rapidly, resulting in higher demand for products and services. Thailand plans to distribute Thai products in India’s e-commerce channels and is currently negotiating with three major e-commerce operators in order to present Thai sections on their platforms. Jittima introduced Indian states e.g. Odisha, Andhra Pradesh, Telangana and Tamil Nadu, where Thai investors and exporters should look for business opportunities. Jittima believes that there is plenty of room to grow in terms of trade and investment between Thailand and India. Thailand’s exports to India in February 2018 stood at $25.83 billion or 4.48% growth when compared to last year.
Venezuela
(Source : Embassy of India, Caracas)
Bilateral Trade
|
Period
|
Imports from Venezuela
|
Exports to Venezuela
|
Total trade
|
|
US$ million
|
Rs. Lacs
|
US$ million
|
Rs. Lacs
|
US$ million
|
Rs. Lacs
|
|
2016-17
|
5,512.06
|
3,696,429.07
|
62.22
|
41,615.42
|
5,574.28
|
3,738,044.49
|
|
2015-16
|
5,701.81
|
3,715,029.41
|
130.66
|
85,177.63
|
5,832.47
|
3,800,207.00
|
|
2014-15
|
11,729.89
|
7,158,579.90
|
258.07
|
158,004.43
|
11,987.96
|
7,316,585.00
|
Source: Export Import Data Bank, Department of Commerce, Ministry of Commerce & Industry, Government of India and Export Import Data Bank, National Institute of Statistics (INE), Government of Venezuela. Venezuela has not published any official data in respect of trade after 2014.
Potential products of exports for India
Pharmaceutical products -
Venezuelan pharmaceutical industry is severely affected by the lack of private investment and relies heavily on the imports for drugs and pharmaceuticals. India is one of the leading manufacturers and exporters of pharmaceuticals in the world and enjoys acceptance in the Venezuelan market due to its quality and competitive prices.
Auto-parts -
India is one of the top manufacturers of auto-parts in the world. Venezuela is in dire need of auto-parts for all kind of Vehicles.
Important India related statements of commercial significance by political leaders, think tanks, chambers, associations etc:
Venezuela Wants to Ditch US Dollar and use Indian Rupee for Trade: Venezuelan Foreign Minister, Jorge Arreaza, stated that Venezuela was interested in conducting transactions with the Indian government and business sector using India`s national currency, the Indian Rupee (INR), instead of the U.S. Dollar. "We don`t want to use the dollar at all," Arreaza said. "We want to import technology, food products, and medicines by paying (Indian) rupees and they will pay us (Venezuela) not in (US) dollars but in Rupees."
India – Venezuela relations:
Venezuela and India Meet to Strengthen Commercial Ties: Venezuela and India strengthed their strategic commercial alliances during a visit to India by Venezuelan Foreign Minister Jorge Arreaza, for the Summit of the International Solar Alliance (ISA). Arreaza, who led the delegation, was accompanied by the head of the Ministry of Oil and Mining Popular Power, Manuel Quevedo, and the Ministry of Foreign Trade and Investment, José Gregorio Vielma Mora. "We evaluated proposals to invest in Venezuela and produce finished goods in alliance with India; we evaluated the promotion (of these goods) and judicial aspects, and the renewal of commerce between the peoples," Mora said. In a meeting with Mr. Suresh Prabhu, India`s minister of Commerce and Industry, the Venezuelan delegation presented the contents of the nation`s new Law for Foreign Productive Investment, drafted by President Nicolas Maduro. The two nations also discussed cooperation in other areas, such as development economics and "the wellbeing of our peoples," Mora said. Minister Quevedo held a meeting with his Indian counterpart, in which they outlined other strategies to strengthen commercial ties between the two nations.
Meeting of Ambassador with Governor of Miranda State: On 05 March 2018, Indian Ambassador met Governor of Miranda State, Mr. Héctor Rodríguez at his protocol office, on invitation from the Governor. The Governor sought collaboration with India on economy and culture. Regarding pharmaceuticals, Governor informed that they are looking for establishing a viable relationship with India. There is a demand of 360 million units of pharmaceuticals in the state. Ambassador responded that after oil, pharmaceuticals are the biggest item of trade between India and Venezuela which was to the tune of US$ 60 million till last year. Ambassador remarked that Indian medicines are not only cheaper than US, Canada and Europe, but are also of better quality. As examples he stated that the prices of HIV drugs came down drastically when India started producing them and the medicines for Hepatitis B are also quite reasonably priced in India. Governor also touched the topic of importing fabric, yarn, etc; from India for their textile industry which is one of the largest in the country and is exporting to other LAC nations. Lastly, Governor mentioned about the schools that are being opened by their government recently. He said that he would like Indian Embassy to adopt one school for promotion of Indian culture. Ambassador also briefed them about ICCR as well as ITEC scholarships being offered by Government of India.
Venezuela defines new strategic alliance with India: On 09 March, the Minister for Foreign Trade and International Investment, Mr José Gregorio Vielma Mora, met with the Minister of Commerce and Industry of the Republic of India, Mr Suresh Prabhu. The diplomatic representation has the intent of defining the design of the new commercial strategic alliance between Venezuela and India. The Minister for Foreign Trade and International Investment is accompanied by the Minister of Popular Power for Foreign Affairs, Mr Jorge Arreaza, and the Minister of Popular Power of Petroleum and President of PDVSA, Mr Manuel Quevedo. Mr Vielma Mora presented the new constitutional law on productive foreign investment, designed by President Nicolás Maduro, as well as the investment proposal in the hopes of renewing trade relations between both countries.
Venezuelan delegation met Indian Tractor company: The Venezuelan government received a proposal from India to work on the production of tractors in the South American country, as informed by the Minister of Foreign Trade and Foreign Investment, José Gregorio Vielma Mora. "We are pleased to inform Venezuela that we received an investment proposal for the production of tractors in our country, along with the company Sonalika Tractors from India and Venequirca from Venezuela," he said through his Twitter account. "We continue fulfilling the work agenda in New Delhi, looking for opportunities for the Homeland, in the agricultural area for production. We have designated the Embassy of Venezuela in India to promote investments", he added.