Hey Risers
Thank you for subscribing to India Rising. Our community of Risers continues to grow and it’s great to have you with us!
This week's edition focuses on India's momentum in manufacturing, an overview of recent investments by international businesses, and more must-know news.
Recap: I hope you enjoyed the first Riser community guest article by Kanwar Vivswan (Osborne Clarke) and Janine Haesler (Vischer) on the upcoming EU-India Free Trade Agreement last week. My key takeaway: India’s balance of global integration while protecting its local economy with tailored trade agreements.
Stay tuned and help us expand our reach by sharing India Rising with your network.
Got feedback? Just hit reply, I’d love to hear from you!
Rise of the Week: India’s Momentum in Manufacturing and Services
Amid mixed economic developments globally, India shows notable strength in both manufacturing and services sectors. Recent export figures and Purchasing Managers Index’ (PMI) data indicate consistent growth that distinguishes India's economy from many of its international counterparts.
Image generated with ChatGPT
The PMI metrics signals an economy’s state in terms of expansion (above 50) and contraction (below 50). According to J.P. Morgan’s latest report shared by The Economic Times, India holds the leading position in both manufacturing and services activity for April 2025:
PMI April 2025 | India | China | US | Europe |
Manufacturing | 58.2 | 50.4 | 48.7 | 49.0 |
Services | 58.7 | 50.7 | 51.6 | 50.1 |
India’s economic activity reached the highest level in over 10 months, while several other major economies are experiencing slower growth or contraction. According to The Hindu, the main contributing factor is strong international demand defined by increasing export numbers, which has positively affected domestic investments, hiring, and overall economic development.
The notable increase in new export orders in April may indicate a potential shift in production to India, as businesses adapt to the evolving trade landscape and U.S. tariff announcements.
This economic activity is also solidified by the trade figures for April, as reported by the Times of India.
Imports: +19.12% year-over-year to USD 64.91 billion
Exports: +9.03% yer-over-year to USD 38.49 billion
In particular, exports in electronics (+39.51%) and engineering goods (11.28%) show growing demand for products manufactured in India.
The latest economic indicators confirm India's continued development as a manufacturing centre. While the electronics manufacturing sector (which we covered in in issue 6) remains an important driver, this growth extends across multiple industries, reflecting a broader economic expansion that we'll examine in the following section.
Sources: The Economic Times, The Hindu, Fortune India, Time of India
What Else is Rising?
European and Asian Businesses Build Up Indian Manufacturing Capacity
Global businesses continue to establish and expand manufacturing operations across India. Recent weeks have seen notable investments in the soon to be third-largest economy from both European and Asian multinational corporations, spanning diverse sectors.
From shipbuilding to green energy, climate tech, battery technology, and textile manufacturing, the following examples highlight the breadth of international interest in India's production capabilities:
Shipbuilding: South Korea’s HD Hyundai, the world’s largest shipbuilding manufacturer, is reportedly in talks with Cochin Shipyard Limited, to invest INR 10,000 crore (around EUR 1.1 billion) for a mega shipyard in Thoothukudi, Tamil Nadu.
Green Energy & Climate Tech: Belgium’s John Cockerill intends to double its electrolyser manufacturing capacity to 2 GW by 2029 and to expand into defence manufacturing, steel decarbonisation, and other services to contribute to India’s net-zero ambitions.
EV Supply Chain: Hyundai Motor India’s affiliate company Mobis inaugurated a Battery System Assembly (BSA) plant for electric vehicles in Sriperumbudur. 8.15 acres large, the plant’s initial capacity is at 36,000 units and can be extended to 75,000.
Textile Manufacturing: The German family business and manufacturer of textile machines Truetzschler inaugurated a new plant in Sanand GIDC, Gujarat. The company has been present in India since 1977 and is a dominant player in its sector.
These developments echo the announcements by various European governments on their manufacturing partnerships with India. French ambassador to India, Thierry Mathou, shared France’s intention of creating closer ties with India through establishing a stronger manufacturing base for French businesses. Mathou specifically included the defence sector in his recent discussion with Times of India.
Sources: Times of India, Energy Economic Times, The Hindu, Manufacturing Economic Times, Times of India
Quick Risers
The US Tech company Adobe announced various collaborations and partnerships as well as a new campus in Noida. With over 8,500 employees in India, the Noida campus will serve as a global operations hub. (Source: Business Today)
The Indian e-commerce player Flipkart announced the relocation of its HQ from Singapore to India. The Walmart backed company was founded in Bengaluru before moving to Singapore in 2011 to attract foreign capital, and does now plan its IPO in India. (Source: Tech Crunch)
Tata Steel announced USD 1.76 billion investments in its Indian and European business on top of USD 2.5 billion in its Singaporean subsidiary which supports the European operations. (Source: GMK Center)
India released its first monthly labour and unemployment data. In April 2025, India’s unemployment rate was at 5.1%. (Source: The Economic Times)
Spotlight: Tech Talk 2025 at Consulate General of India, Frankfurt
The Consulate General of India, Frankfurt is hosting its first Tech Talk event on 22nd May 2025.
Source: Consulate General of India, Frankfurt (2025)
The focus will be on transferrable technologies between Indian and German industries, highlighting collaborative opportunities and innovation synergies. I will also be speaking at the event about how German enterprises are strategically utilising their Indian GCCs as catalysts for technological advancement and competitive advantage in global markets.
Get more information on Tech Talk 2025 and register here!
Curiosity Corner
Your random facts and stories about India and the Indo-European friendship.
Film buffs will know that Cannes Film Festival is taking place right now, but have you heard of Kollywood?
Kollywood is the Tamil-language film industry based in Chennai, Tamil Nadu, and is one of India’s most dynamic cinema hubs. Named after the Kodambakkam area and Hollywood, Kollywood is known for its rich storytelling, vibrant music, and tackling social issues. It has produced legendary stars like Rajinikanth and Kamal Haasan, and its movies enjoy a huge following both in India and among the Tamil diaspora worldwide. Despite being less known internationally than Bollywood, Kollywood is of cultural importance with a unique style and global influence.
Enjoyed this issue? Share the newsletter with your network.
Whenever you’re ready, here are 3 ways I can help you:
1. Real Estate Services
From Corporate Real Estate and Workplace services to holistic real estate consulting and development support, I’ll help you focus on your core business.
2. Market Entry India & Emerging Markets
As Advisor to Zinnov, a leading consultancy for globalisation in Tech, I help you set up your organisation in India and Emerging Markets.
3. Collaborations & Promotions
I’m a proponent of ecosystems and partnership networks. Whether it’s collaborating on a project, participating in your event or promoting ideas, please reach out.
You can’t get enough or want to catch up on past editions? Follow the link!
