Salman Khurshid, India’s foreign minister, is back from a trip to China last week, happy to see the end of a tense stand-off over a long-running border dispute. Settling that issue will re-open the way for a planned visit by Chinese Premier Li Keqiang to India and allow the two countries to concentrate on the big topic on Khurshid’s agenda: trade.
But here, too, relations between the region’s big powers are not entirely friendly. Continue reading »
Cheap Chinese exports have long flooded the Indian market. But – in a couple of small sectors – it seems the tables are turning.
First, Samsung announced it would be taking a phone designed for India to China. And now, Yamaha, the Japanese two-wheeler maker, has decided to produce the world’s cheapest motorbike in India and export it to other markets, including China. Continue reading »
On Wednesday, the streets of India will be filled with men and women, boys and girls, flinging multi-coloured powder and water over one another as they celebrate the beginning of spring. The festival of Holi will end with stained carpets and hot baths, as people return home to spend time with loved ones – and probably drink bhang, a traditional brew brimming with cannabis.
It is a distinctively Indian sort of mayhem. Doesn’t sound like something the straight-laced Chinese could get involved with, does it? It is, though. Continue reading »
Indian power company Lanco’s deal to secure up to $2bn in funding from China Development Bank is obviously good news for the heavily indebted group. But are other struggling Indian conglomerates likely to be able to tap similar Chinese funding, and should India worry if they do? Continue reading »
In the second spot of good news for Indian billionaire Anil Ambani in the past two weeks, his Reliance Power received approval from Chinese regulators for $1.1bn in loans from mainland banks.
The loans, from Bank of China, China Development Bank Corp, and Export Import Bank of China, were announced in December 2010, and meant to finance the purchase of equipment for the Sasan power plant. Those loans were approved by the Reserve Bank of India last October, and finally received Chinese approval last week. Continue reading »
Anyone familiar with the name of Humayun Shahryar will know he is not a big believer in emerging markets. Take his views on China: “The whole soft-landing/hard-landing thing is a non-argument. China is crash-landing as we speak.”
But the founder and chief executive of Auvest, a Cyprus-based hedge fund, does have faith in his native India, which he reckons is next in line for China-style growth – but only after it’s been through a lot of pain. Continue reading »