According to relevant media reports, the Indian Plastics Foundation Trade Association signed a memorandum of understanding with the University of Massachusetts, Lowell, to provide advice on courses, infrastructure, industrial and technology degree awards, etc. Both sides established the International University of the Indian Plastics Industry The university aims to promote the education and training of the Indian plastics industry and increase the technological level of the Indian plastics industry. In addition to engineering courses, the Indian plastics industry national university will also set up modern R&D labs and increase the curriculum of plastic engineering courses. Currently the school has accepted applications for admission from plastics, chemical and mechanical engineers.
As the second most populous country in the world, India has been receiving international attention. With the advancement of a series of reform measures of the Indian government this time, many media and analysts believe that India will replace China and become a new 'world factory'. It shows that in 2017, India’s economic growth rate was 7.2%, making it the world’s seventh-largest economy. With the rapid economic growth, along with the deepening of government reforms, Indian manufacturing will surely enter the international stage in the near future. The plastics industry is India. One of the industries that focuses on development is evident from the establishment of an international university in the plastics industry. China's press companies should seize current opportunities to enter the Indian market.
Compared with China, India has certain advantages in many fields. China’s demographic dividend gradually disappears, labor prices continue to rise, and labour cost advantages cease. In contrast, India not only has a population base that is not inferior to China, but also has the largest number in the world. The population structure and superior labor force structure. According to the statistics of the World Bank in 2016, the population of India is 1.324 billion, which is only a difference of 5,500 million from China's 1.379 billion. The median age of the Indian population is 27.6 years, while in China it is 37.1 years. The population structure, abundant labor resources, made India not consider the labor cost problem in undertaking the industrial transfer process.
In addition to labor advantages, the Indian government’s reform measures are also one of the reasons attracting the attention of the international community. Since 2014, the Indian government has carried out a series of drastic reforms. Whether it is to strengthen infrastructure, or to solve the fiscal deficit, or reform the tax system. Such measures have contributed to the rapid and rapid development of the Indian economy. In particular, the establishment of a unified national taxation system and merger of taxes and measures have not only broken the trade barriers between Indian states, but also established a unified Indian market and reduced corporate taxation. Cost, improved investment environment promoted the circulation of commodities, and created favorable conditions for external capital to invest in India.
Related media reports that other well-known foreign press companies such as Husky, Wimbledon, Solvay and Covestro have started to set up factories or expand factories in India. The Indian plastics market is Vigorous growth attracts outstanding companies from all over the world to invest in production. China also has presses to enter India with the pace of foreign presses.
As a well-known injection molding machine manufacturer in China, Haitian International Holdings Co., Ltd. is building a new factory in India in order to expand its market share in India. At the same time, another new plant will be able to reach the capacity of 200 hydraulic presses by the end of 2018. Haitian also emphasized that the company will first Concerned about the Indian market, and based on the Indian market, export products to Africa and the Middle East. Other press companies should also follow the footsteps of Haitian and set up factories in India.
While China's press companies actively seize the opportunity to enter the Indian market and enjoy preferential treatment, they must also face up to the drawbacks of the Indian market. Despite India's abundant labor resources, its labor quality is relatively low, and a large number of labor resources can meet the market. Development, especially the matching of the press industry is still a problem. The gap between the rich and the poor is too disparate. India's rural areas have a population of nearly 1 billion, but rural areas are generally poor and purchasing power is low. It remains to be seen how much rural India can contribute to the development of India. The relations between big powers are more subtle, especially because of China's well-known reasons. The relationship between China and other countries is quite tense. Can Chinese companies receive the same treatment in other countries as India and test the Indian government?
India is attracting international investment with an open attitude. Despite various problems in the Indian market, the prospects for the development of the Indian market are optimistic with the efforts of its government. Enterprises in the plastics industry in China should clearly understand the dynamics of the Indian market. Actively participate in the development and construction of India's plastics industry, and strive to create a mutually beneficial and win-win situation.