Press Release

Consulate General of India
Shanghai 

 Interaction Session with EU Chamber of Commerce in China for Indian businesses in Shanghai

The Consulate General of India in Shanghai organized an interaction session with the European Chamber of Commerce in China (EUCCC), Shanghai Chapter at the Consulate’s premises on 8th May 2024.

2. The aim of the session was to discuss the potential opportunities and risks for Indian businesses in China due to the evolving economic and policy environment in China and to help Indian companies better strategise for FY 2024-25. The session involved presentations on ‘European Business in China: Position Paper 2023-2024’ and ‘Riskful Thinking: Navigating the Politics of Economic Security’ by the guest speakers from EUCCC. A copy of these reports and the major discussion points are being shared separately.
   
   
3. In his opening remarks, Dr. N. Nandakumar, Consul General, outlined the major changes that the Chinese economy is undergoing and urged Indian companies to adjust, adapt and strategise to grow their business. Mr. Carlo D’Andrea, Vice-President of the European Chamber and Chair of the Shanghai Chapter presented key findings of the EUCCC’s Position Paper 2023-2024. He highlighted recent developments in the economic policy of China. Mr. Steven Basart, General Manager of the Shanghai Chapter, European Chamber, presented the key findings of EUCCC’s latest report on EU’s 'de-risking' strategy vis-a-vis China.
   
   
4. Apart from the two speakers referred above, Mr. Clas Neumann, Chairman, German Chamber of Commerce in Shanghai and Vice-President, SAP Labs and Mr. Charles Cheng, Chairman, Societe Generale also shared their perspective about the business environment in China in the sectors of IT and financial services.
   
   
5. The presentations were followed by a Q&A session during which Indian company representatives discussed various subjects of interest to them. The speakers answered their questions while emphasising that Indian companies should be proactive and exercise due diligence to remain competitive. The session was well-attended with major Indian companies like TCS, L&T, Reliance, Adani Enterprises, Tata Motors etc. participating in the programme.

10^th May 2024
Shanghai