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"Here, you can meet all the problems you can't imagine." Talking about his work experience in India, Zou Yan began to sigh at the Southern Weekend reporter. He is an engineer with a Chinese heavy-duty truck company based in India and has been in the country for two years.
Inefficiency is a common assessment of the Indian market with him and almost all non-Indian colleagues. The heavy truck company invested in an automobile assembly plant in India. It took seven years from the conclusion of the investment intention to the completion of the factory. “Technology has fallen behind and has to be updated immediately,†he said. But if you ask why it is so hard to enter the Indian market, he immediately replied: "Almost the world's major car and motorcycle manufacturers have invested in India. This is a big market. India's motorcycle ownership It has reached 50% of China. If you don't come in, this market will not have your share."
Most importantly, this market is actively opening to China.
"Self-timer diplomacy": an open attitude?
On May 15, 2015, Indian Prime Minister Modi, who visited China, posted a photo of him and Premier Li Keqiang on Weibo. This practice was quickly named by Reuters as “self-timer diplomacy†to summarize Modi’s strong public relations capabilities since he became Prime Minister of India on May 26, 2014.
Gujarat, as "Guangdong's Guangdong", its former chief minister, Modi Su, is good at attracting investment. When Modi was still prime minister, Professor Di Bojie had already predicted in an exchange with Southern Weekend reporters that Modi would make infrastructure in the future and have room for cooperation with China in transportation, energy and agriculture. After separating the dispute from the economic and trade issues, Modi’s trip to China seems to have brought about certain results, one of which is to clarify the opening of the Indian market to Chinese investors. The Sino-Indian railway cooperation, which has been discussed in a high-profile manner for a year, has finally had a relatively clear cooperation intention and implementation draft.
In an event at the Indian Embassy in April, a diplomat who asked not to be named told Southern Weekend that India needed Chinese funds and technology to upgrade its infrastructure. At the same time, the diplomat also hinted that the huge trade deficit between China and India "needs to be resolved." In 2014, China was India's largest trading partner and India was China's seventh largest trading partner. In the 2013-2014 fiscal year, the deficit between the two countries was as high as 36.2 billion U.S. dollars, more than double the total amount of India’s exports to China.
There are two ways to solve the problem. India can rely on increasing exports to China to reduce the deficit, and it can also be balanced by introducing Chinese investment. Di Bojie said: "We recognize that the model of buying products from China and then selling them to India is unsustainable. China should enter India and invest in its manufacturing."
“The Indians have developed a 'Make in India' plan, saying that Chinese should invest in India and balance trade between them.†Wu Shunhuang, a long-time investor in the Indian market, told Southern Weekend reporters.
In the “Belt and Road†to complete the preliminary planning in 2015, the Bangladesh-China-India-Myanmar Economic Corridor is the most important part. In the just-concluded Sino-Indian joint statement, the two sides reaffirmed the concept of an economic corridor that was proposed in 1999 but did not become a hot spot until Modi took office. One has to go out and one has to be introduced. The two sides have already synchronized the pace of cooperation.
The "touchstone" of Chinese companies
At an Indian investment briefing held by Jinan University in mid-May, Wu Shunhuang compared India's and China's economic growth rate, population structure and political environment. The conclusion is quite optimistic: India is a country with relatively stable political and abundant labor resources. If the Indian government's forecast of 8.1% economic growth this year can be achieved, its growth rate will exceed China. "I am 100% sure of this," Wu Shunhuang said.
However, on the issue of how to do business with Indians, Wu Shunhuang also witnessed the disproportionate relationship with its economic development. “A factory, from land acquisition to completion and commissioning, I have seen it for more than ten years. The average time is about three times that of similar projects in China.†Not only that, but the country’s investment profit rate is relatively low, recessive. The cost is relatively high. Wu Shunhuang told the Southern Weekend reporter that the hidden costs he calculated accounted for about 5% of the company's production costs. This included a variety of cumbersome formalities for approval, evaluation, land acquisition, and various non-dominant functions that enabled the entire project to operate. expenditure.
Wu Shunhuang believes that the reason for the low profit margin is that the Indian side "has great patience in doing business." "In order to buy products from your customer, he can get to know the products of at least ten similar customers. The cost per kWh and each worker. The price given to you is just slightly lower than the ex-factory price." Wu Shunhuang said.
For technicians like Zou Yan, the "patience" of Indians is a huge test. At one meeting, the Chinese listed 40 technical issues that need to be resolved, and they are going to discuss with Indian technicians one by one in a four-hour meeting. However, on the second question, “it was taken to the ditch by the Indiansâ€, it took an entire hour to explain the industry standard of the technology to the Indians, as well as the applicable law, and the result was not completed. Similar things happened many times, and Zou Yan’s final conclusion is: they will drag the time. In the eyes of business investment management expert Zheng Gang, whether it is “drag time†or “patienceâ€, the root cause of the cumbersome and complicated investment in India is “India is more like a traditional planned economy countryâ€.
According to the scholar Qin Hui, since the founding of the People's Republic of China, India has economically promoted the Soviet-style planned economic policy, and it was not until 1991 that reforms were implemented. The take-off of the Indian economy is recognized as a reform that began in 1991.
After Modi took office, he tried to improve the investment environment. The Indian Parliament is trying to pass a number of bills on land acquisition, taxation and preferential policies in relevant development zones. “If it succeeds, the cost of land acquisition will be reduced, and the negative impact of different tax policies in various states will be reduced.†Professor Di Bojie told Southern Weekend reporter, “In two to three years, India’s investment environment There will be a big improvement."
Chinese companies investing in India also have their own problems. According to the editor of the South China Morning Post and Indian Roy Chowdhury, the problems of some Chinese companies in India are difficult to achieve localization, lack of corporate social responsibility and too low-key. Chowdhury pointed out sharply that some Chinese companies are used to dealing with the government, but they are not good at interacting with NGOs and various communities, and there is no specific strategy for dealing with the media.
He did not specifically say which Chinese company did a bad job, but gave a positive example - China's Lenovo Group. “There are many Indian executives in India who are Indians. The localization is very good. Many Indians have not even noticed that it is actually a Chinese company. It is also good at using various opportunities to advertise – Even in the "India Times" published a large version of the advertisement." "India Times" is the third largest newspaper in India.
Wu Shunhuang believes that if Chinese companies can survive in India and accept the local business environment and social environment, then investment in the Middle East or Europe and the United States will become "easy." “Many people will regard India as a springboard for the globalization of their own companies. Because India just connects China with the West. Its culture is somewhere in between.â€
As an investor, Zheng Gang believes that "China-India relations still have significant uncertainties." In the Indian media, all kinds of skeptical and even unfriendly voices to China are often heard. "If you look at the Times of India every day, you will feel that India and China will start fighting tomorrow." Chowdhury said.
Under suspicion, how Chinese companies invest in India has become a topic of great consideration. For example, Chowdhury said that Indian ports are strategic assets and Chinese companies cannot enter. Zheng Gang, who once worked as an Indian investment consultant for Fortune 500 companies, believes that Chinese companies should not invest in India's strategic infrastructure. A similar debate can be heard when Chinese companies first entered India on a large scale in 2008.
However, Chinese companies are entering the railway industry and the power industry, which are also strategic in nature. Encouraged by the “Belt and Road Initiative†initiative, more Chinese companies are gearing up and ready to go abroad. "When the trend has already taken shape, its direction is not that change can be changed." After a lot of negative conditions in India, Chinese engineer Zou Yan finally made a positive summary.
Abstract On May 16, 2015, Indian Prime Minister Modi witnessed a cooperation agreement between China and India to sign a total amount of US$22 billion in Shanghai at the last stop of his visit to China. The cooperation covers energy, trade, finance and industrial parks. Modi expressed the hope that the two countries can enter...
On May 16, 2015, Indian Prime Minister Modi witnessed the cooperation agreement signed by China and India with a total amount of US$22 billion in the last stop of his visit to China. The cooperation covers energy, trade, finance and industrial parks. Modi expressed the hope that the two countries can further cooperate to enhance the common development of China and India. This huge market of India is taking the initiative to open to China.