India's fastener production and exports in 2011 or export growth of 20% to 50%
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Among them, the automotive industry will be the most important source of additional orders for fasteners. The telecommunications, construction, electronics and textile machinery industries will also stimulate the growth of orders.
At the same time, India's fastener industry will also face several major challenges in 2011. The most serious of these is the rise in the cost of steel. The rise in cost will squeeze the profits of fastener manufacturers. The lack of electricity supply is another major problem faced by fastener manufacturers in India.
In order to solve the above problems, more than 150 high-strength fastener manufacturers in India stated that they will expand the factory area, introduce new equipment, expand product categories, and establish joint ventures to increase research and development capabilities.
market background:
Overview of the Indian market: India is the world’s fourth largest economic entity, and its total national income ranks 12th in the world. India has a total population of 1.03 billion. The middle class accounts for about 2.5 to 300 million, which exceeds the total population of the United States or the European Union. It is the main class of the rapidly developing consumer market. Since the 1990s, India’s economy has grown rapidly. Until 2010, its annual average GDP growth rate has remained at around 9%. China-India Bilateral Trade: India is China's largest trading partner in South Asia. According to statistics from China Customs, the total bilateral trade between China and India in 2004 was 13.6 billion U.S. dollars, an increase of 79.1% year-on-year. Among them, China exported 5.93 billion U.S. dollars to India, an increase of 77.3% year-on-year; import from India was 7.68 billion U.S. dollars, an increase of 80.6% year-on-year. The Chinese deficit is 1.75 billion U.S. dollars. China's main exports to India are electromechanical hardware products, chemical products, textiles, mineral products, steel and other base metals, plastics and rubber, ceramics and glass products. Electrical and mechanical hardware products are China's largest exports to India.