EES General Meeting and Economic Talks in Nuremberg (GER), November 9, 2018
EES General Meeting and Economic Talks in Munich
“India – Hidden GEM; Future Relation between Europe and India; New Silk Road – Curse or Blessing?”
The economic relation between Europe and Asia is becoming closer and closer, not only since the change of policy of the new American president. In the period 2000-2014 the EU's trade with so-called Asian developing and emerging economies has grown more than 3.5 time to around $ 1.25 trillion. Not only trade relations have intensified considerably, but also financial flows and direct investment. And this trend has continued in recent years. That’s why Europe and the economy are well advised to look in that direction.
The driving force behind this growth has been China. But there is also a so-called "Hidden GEM" with India, a rough diamond that is on the rise. India is already one of the top 10 of international trade of goods. According to the British Centre for Business and Economic Growth (CEBR), India will become the world's fifth largest economy in 2018.
India is well aware of its potential and wants to overtake China and become the fastest growing economic power in the world. For example, the Indian government is aiming for growth of Gross Domestic Product (GDP) of between 7.0 and 7.5 percent for the financial year ending March 2019. By contrast, China's economic experts only expect growth of 6.5 to 6.8 percent for 2018.
As an European business association and business representatives, we are very interested in this development, as an increase in business with India ultimately leads to more growth and prosperity for all partners and deeper relationship between European and Indian companies. A stable and growing relationship between companies is also a peace project and helpful for the political stability in this region.
At this conference we discussed with experts from economy and politics about the future relations between India and Europe. What do companies from India expect, what is the master plan of Indian politics? China invests in the new Silk Road. How does that affect? Which strategy does India use against it?
EES Economy Senator Nomination
|New Senators (from left) Dr Denis Paksoy, Dr Deepak Narwal, Khawaja Sarwar, Christoph Buhl, Member of Parliament Bernhard Loos (Guest), Michael Jäger (CEO), Evelyne Kadesa, Lubomir Marjak, Dr. Ingo Friedrich (President), Dr Sabine Loritz, Manfred Keuters, Consul General India Sugandh Rajaram (Guest), Rolf von Hohenhau (Chairman) and Wolfgang Franken (Secretary General). Missed on the picture Virgil Tornoreanu.
For more Pictures please see the Picture Gallery in the members’ area