Promising India – Deep dive into India’s economy by Koen De Leus

Explore Koen De Leus‘s India research for in-depth analysis on the country’s economic landscape and business environment. The research is based on 20+ interviews Koen had with top officials, academics and chief economists (including the chief economic advisor of the Indian government), as well as his personal experience and piles of macro studies he read.

BNP Paribas Fortis visits India

At the Belgo-Indian Chamber of Commerce & Industry, we are committed to empowering our members to thrive in the global marketplace. Recently, we were proud to assist one of our members, Koen de Leus from BNP Paribas Fortis, in his research trip to India.

By leveraging our network and resources, we facilitated valuable connections that helped in achieving their research goals. Koen de Leus shares his experience about his time in India.

“Last October I went on a study trip to India, where I visited New Delhi and Mumbai. And of course, Agra and the Taj Mahal; in order to understand a country, you have to sniff the culture as well

I was impressed by the impeccable road that took me to Agra. We covered the distance from Greater Noida (just outside New Delhi) in less than two hours, compared to the four hours it would have taken before. Every day India builds around 30 kilometres of extra road, and the government aims to pick up that pace to 45 kilometres per day. New ports and airports are being built and infrastructure is improving, all in an attempt to lure foreign companies to invest in India.

India needs these investments. It needs to create between 150 and 300 million EXTRA jobs by 2050 to reap its demographic dividend. On top of that it will have to create jobs for people migrating from rural areas to the (smart) cities. If the country can achieve that, the middle class will grow even larger than it already is today, consumption will follow and economic growth will remain at 7% a year, or even more, for quite a while longer.

However, achieving this goal will not be simple. India is NOT the new China; India is a democracy and democracies typically change much (much) slower. Ten years of Premier Narendra Modi have brought many structural changes, such as digital development and the introduction of the Goods and Services Tax system. But the ‘Big Bang’ reforms of the labour, agriculture and land markets are hard nuts to crack. Healthcare and basic education in rural areas also have room for improvement.

In the following weeks, I will do 10 deep dives into these and other topics to show you my take on India’s promise. I’ll base my articles on 20+ interviews I had with top officials, academics and chief economists (including the chief economic advisor of the Indian government), as well as my personal experience and piles of macro studies I’ve read. 

A big thanks to all people I interviewed, talked to, and helped me organize this fantastic insightful study trip.”

Bharat Tex 2024: 26 – 29 February

Bharat Tex 2024 is a prominent international industry platform, featuring exhibitions, knowledge sessions, thematic discussions, Government-to-Government (G2G) meetings, Business-to-Business (B2B) networks, the signing of Memorandum of Understanding (MoUs), product launches, thematic and interactive pavilions and various other activities. The event has been designed to attract multiple stakeholders including top policymakers, global CEOs, international exhibitors and global buyers.

With dedicated pavilions on Sustainability and recycling, thematic discussions on resilient global supply chains and digitisation, interactive fabric testing zones, product demonstrations and masterclasses by crafts persons with over 3 generations of tradition and history, an art Jugalbandi and a marque event involving global brands and international designers, Bharat Tex 2024 truly promises to be a unique experience for knowledge, business and networking.

India’s textile heritage is legendary, dating back centuries and the country is renowned for its diverse and exquisite range of textiles, techniques and traditions. Bharat Tex 2024 will highlight the richness of Indian textiles and strengthen its image as a custodian of tradition, innovation, and sustainability. It will also celebrate India’s reliability as a competitive, sustainable textile manufacturing hub across the entire value chain, from raw materials to end products.

The 4-day event is expected to attract over 3,500 exhibitors from around the world. Over 3,500 overseas buyers, and more than 30,000 trade domestic visitors are expected to attend the show.