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Time of India
6 hours ago
- Business
- Time of India
Brazil's Embraer looking to step up jet production
New Delhi: Brazilian planemaker Embraer is looking to increase production rate of its commercial planes to 120 a year from 73 now, as airlines call for competition to end the Boeing-Airbus duopoly . Embraer is the third-largest aircraft manufacturer behind Boeing and Airbus. It manufactures regional planes with capacities ranging from 50 to 132 seats. "This year, we have a plan to deliver 75 to 80 planes in the commercial segment. We plan to increase production to 110 to 120 per year," Francisco Gomez Neto, chief executive officer of Embraer, told ET in an interview. Embraer is also examining the potential of a clean sheet design to increase market share. Neto didn't confirm if that would be a commercial jetliner, but reports have suggested that the company is planning a next-generation, narrow-body jet which can compete with best seller aircraft like the Airbus A320 and Boeing 737. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Shooter Action MMO Crossout Play Now Undo "It could be a new commercial or business jet... New commercial jet, bigger or smaller than what we have today," said Neto. "We are talking to engine makers, studying different types of wings. We want to make sure that if we build a new product, it should be one for the next two to three decades." European aerospace major Airbus is developing a next-generation, single-aisle aircraft for introduction in the second half of the 2030s, the company said. Live Events Boeing and Airbus are months and years behind on new aircraft deliveries, frustrating airlines that want to upgrade to more fuel-efficient planes and launch new services. Emirates CEO Tim Clark said the industry is still facing chronic aerospace supply problems and challenged plane makers to take responsibility. "I am pretty tired of seeing the hand-wringing about the supply chain: you (manufacturers) are the supply chain," Clark said last week at a press briefing in New Delhi. However, though he said that the industry needs a third manufacturer, he added that currently it doesn't look like the duopoly would end so soon. United Airlines CEO Scott Kirby also called for more competition in the aerospace business. Neto said he sees opportunities in India in commercial and business jets, as well as military aircraft, and is ready to set up a final assembly line if it secures a large order from the country's airlines. "We are very open to discuss, but we need to have scale of deliveries in India in order to make sense, make business sense, but we are open to do it," Neto said.
Forbes
25-04-2025
- Business
- Forbes
Tariffs, Trade Wars, India And The Future Of Whisky
Whisky producers look to India's rising middle class and changing trade policies as a new frontier for growth amid slowing Western markets. Whisky producers look to India's rising middle class and changing trade policies as a new frontier for growth amid slowing Western markets. For many in the whisky industry, 2024 was a tough year. The aftershocks of historic interest rate hikes, introduced in 2022 and 2023 to curb runaway inflation following the pandemic and the war in Ukraine, continued to weigh heavily on consumer confidence. That strain showed up clearly at auction, where whisky prices have been falling since the first interest rate hike in late 2022. So when Donald Trump announced a fresh wave of tariffs, it felt like being kicked while already down. But, ever the optimist, I think there might be some positives buried in the chaos. This time around, the tariff story feels different, and that difference could unlock surprising new opportunities. Unlike in 2019, today's tariffs target almost every major whisky-producing country, reshaping the stakes for global brands. The last time whisky got caught up in a trade war was in 2019, when the U.S. imposed a 25% tariff on a range of European goods as part of the Boeing-Airbus dispute. Back then, the focus was narrow. The tariffs targeted specific categories of products including single malt scotch and certain wines from France, Germany, Spain and the UK. Small scotch producers and independent bottlers were hit hard as many rely on U.S. exports to survive. On the other side, American importers and distributors took a beating as prices jumped overnight. Global drinks giants like Diageo could absorb the hit. Smaller players couldn't. This time, the situation is very different, and that's crucial. These new tariffs don't just focus on Europe. They extend to almost every major whisky-producing nation: Scotland, Ireland, Canada, Japan, India, Australia, even Taiwan. At the time of writing, the tariffs are sitting at 10% for most countries (25% for Canada) under a temporary pause. But that pause could be lifted at any moment, and rates are set to jump. India's vast domestic whisky culture and shifting trade talks could create new opportunities for Scotch and American producers. That brings us to India, arguably the most intriguing whisky market in the world right now. So where's the silver lining in all of this? People are talking. It's easy to forget that tariffs aren't a one-way street. India, for example, has long imposed steep taxes on imported spirits: 150% on Scotch and, until recently, 150% on American whiskey. That figure for American whiskey was reduced to 100% in February 2025, a small move, but an important signal. And now there's more. On 21 April, The Wall Street Journal reported that the US and India had agreed to broad terms for a potential bilateral trade deal, following high-level talks between Vice President JD Vance and Prime Minister Narendra Modi. The discussions are expected to centre on reducing tariffs, expanding market access, and tackling non-tariff barriers. These are clear signs that India may be more open than ever to recalibrating its trade relationships. That matters, because the Indian whisky market isn't just large. It's enormous. According to the Malt Whisky Yearbook 2025, India's top-selling whisky, McDowell's No.1, outsells Johnnie Walker by more than 43 percent, no small feat given that Johnnie Walker sells eight bottles every second. In fact, the four best-selling whiskies in the world are all Indian brands. Johnnie Walker ranks fifth. What's more remarkable is that nearly all of this volume is domestic. What's more, this is not an export-led market, but a domestically driven whisky culture sustained almost entirely by internal demand. Technical definitions aside, the takeaway is clear: India loves whisky. However it's made, however it's labelled, the appetite is real, and it's massive. India's vast domestic whisky culture and shifting trade talks could create new opportunities for Scotch and American producers. While several countries, including Taiwan, Vietnam, Israel, and Zimbabwe, have signalled a willingness to lower or eliminate tariffs as part of ongoing or proposed trade talks with the United States (as reported by Reuters and The Washington Post), it is India that holds the most strategic potential. And not just for American whiskey producers — the UK has long viewed tariff reform in India as a major commercial goal, particularly for Scotch whisky. The reason is clear. India already has a deeply embedded whisky culture and, unlike many emerging markets, the infrastructure and consumer appetite are already in place. A reduction in tariffs would not open the door to a new market — it would remove the final barrier to one that is already primed and waiting. I put this scenario to Tzvi Wiesel, CEO and co-founder of the New York-based whisky investment company BAXUS. Over email, he told me over email that 'Bourbon now has a shot of making major inroads in India. This could be the single greatest thing to happen to the entire US whiskey market. While India historically has had a preference for blended malts, American single malt production has been on the rise and could become increasingly competitively priced if blended with other American spirits.' If American and Scotch whisky brands are able to make meaningful inroads into India, the impact could be transformative. But there is a major challenge to overcome. India's best-selling whiskies (McDowell's No.1, Royal Stag, Officer's Choice and Imperial Blue) are all priced at around $10 per bottle. These are not premium products. They are high-volume, low-cost whiskies that dominate the domestic landscape. Breaking into the Indian market is not just about scale, it's about timing. The price point of most domestic whiskies may be low, but the country's economic profile is changing fast, and with it, the potential for premium spirits. According to a report by the Rediffusion Consumer Lab, India's middle class, defined as households earning between ₹5 lakh and ₹30 lakh annually (roughly $6,000 to $36,000), made up 31 percent of the population in 2025. That figure is expected to reach 60 percent by 2047. Wealth at the top end is accelerating too. The Knight Frank Wealth Report 2025 shows that the number of Indian billionaires grew by 12 percent in 2024, reaching 191. That included 26 new billionaires in a single year, a notable jump from just seven in 2019. Forbes now ranks India third in the world for the number of billionaires by country. Collectively, they are worth $954 billion. That said, India's population is vast. It has nearly four times as many billionaires as the UK, but also 21 times the population. Still, the direction of travel is clear. India is not just getting wealthier at the top, it's growing a large, aspirational middle class with rising disposable income. For many, trading up from Indian-Made Foreign Liquor to a bottle of scotch or bourbon is not a leap into luxury, but a natural step forward. If tariffs fall and access improves, the shift from value to premium could happen faster than anyone expects. If these tariffs do turn out to have a silver lining, particularly through a reduction in India, whisky producers could gain access to a vast and fast-evolving market. Brands like McDowell's No.1, Royal Stag, Officer's Choice, and Imperial Blue are already household names in India, and they're not independent upstarts. They're owned by global giants like Diageo, Pernod Ricard, and Allied Blenders and Distillers. That matters. These companies already have deep distribution networks and brand recognition in India. In a moment when whisky producers in the West are facing oversupply and slowing domestic demand, India could represent a critical path to future growth. Leveraging existing infrastructure, it is not unrealistic to see Scotch and American whiskies flowing through the same channels, tapping into a rising middle class that is increasingly looking to trade up. The volumes may start small, but the long-term potential is significant. What once seemed like a far-off frontier may soon become one of the most commercially important whisky markets in the world. Here's to cautious optimism, and maybe even a toast to India's next round.
South China Morning Post
21-03-2025
- Business
- South China Morning Post
Comac ramps up challenge to Boeing and Airbus with plans to boost C919 production capacity
China's leading aircraft manufacturer plans a further 50 per cent boost to production capacity for the C919 – the country's first home-grown narrowbody jet – this year as it ramps up the challenge to the Boeing-Airbus duopoly in the domestic market, according to information shared with suppliers at a conference in Xian this week. Advertisement Commercial Aircraft Corporation of China (Comac) said it will increase production capacity to 75 planes – up from the 50 it announced in January – according to a WeChat account focused on the company's supply chain that shared updates delivered at Thursday's conference. It also announced plans to increase annual C919 production capacity to 200 planes by 2029. Comac plans to produce over 50 C919 jets this year, up from its original target of 30, with annual output expected to reach 150 by 2029. The Shanghai-based manufacturer did not disclose details on its WeChat account but the figures were widely circulated on the Weibo microblog service – the Chinese equivalent of X – through screenshots and reports from people who attended the conference. The company did not respond to a request for confirmation from the Post. Advertisement According to the production plan presented at the conference, C919 production capacity will rise to 100 planes next year. The conference was also told that annual procurement costs for the C919 programme have surged 70 per cent year on year, which would take this year's figure to about 34 billion yuan (US$4.7 billion).
Arab News
06-02-2025
- Business
- Arab News
The threat to Europe is from the East, not the West
The title given by the EU to this week's meeting organized by European Council President Antonio Costa on the topic of European defense was: 'EU leaders discuss defense and transatlantic relations at informal meeting.' The title is very telling. What it says is that Europe is questioning the future of the transatlantic alliance, despite the remarks made by NATO Secretary-General Mark Rutte, who participated in the meeting. This has been an obsession of European leaders toward Donald Trump as a candidate and now as a president. This meeting and the surrounding declarations echo President Gamal Abdel Nasser's words following Egypt's severe defeat in the Six-Day War of 1967. When resigning in the aftermath, he declared: 'The enemy, whom we were expecting from the east and north, came from the west.' Many thought his declaration was related to the battlefield, but it was about political and military protection. Nasser expected the US to lay the trap, when in fact it was the Soviet Union that blindsided him. Whether this is true or not, we notice that it is the dangers and risks coming from the East that should have pushed Europe to invest more in defense, especially since the beginning of the war in Ukraine. Yet, it is a new president in the West that has become the trigger for it. It is the dangers and risks coming from the East that should have pushed Europe to invest more in defense Indeed, French President Emmanuel Macron this week reportedly announced that France will double its defense budget. He stated that the increase will take place after the conclusion of two military program laws and will be accompanied by major new initiatives. 'I call on all our partners to do the same,' Macron urged, emphasizing the need for collective action. He also stressed that securing France's borders remains the top priority. What is interesting is that he chose to mention at the same time the ongoing trade tensions with the US. Macron warned that if the US challenges Europe on trade matters, it must respond with appropriate measures to ensure respect. It is the West that seems to worry the French and not the East. The question that remains is: should it be a source of worry? Trade tensions are not new. I will just mention one file as an example, as it is linked to the defense sector: the historical Boeing-Airbus competition. This is a long-standing trade dispute between the US and Europe, with reciprocal accusations of unfair subsidies and even complaints at the World Trade Organization. There has also been a change in views regarding trade with China, with Europe being more open, even during Joe Biden's presidency. The reality is that Trump pushed Europe to spend more on its defense during his first presidency, which was before Russia invaded Ukraine. Last month, he pushed NATO member states to raise their defense spending target from 2 percent of gross domestic product to 5 percent. Yet, what might most frighten the Europeans is that he added that they should also match Washington's contributions to supporting Ukraine. This looks like mission impossible for now. The real reflection should be on how the US can enhance the lethality of the European armies and vice versa Despite this, on last week's first call between Rutte and new US Defense Secretary Pete Hegseth, 'both leaders stressed the importance of raising allied defense spending,' aligning with Trump's push for higher NATO contributions. This is particularly problematic because, just like the US, many European countries are deep in debt. And changes might come more abruptly than expected, especially when the US Department of Government Efficiency kicks into action. It is only fair that the blind generosity ends. And whether we like it or not, in the pyramid of today's needs, defense is at the base. Can or will the Europeans go beyond their declarations and make up for the lost years? Will they be able to readjust the entire military supply chain to respond to the challenges that are still coming from the East and not the West? Will they agree on what needs to be at the national level and what should be at the EU level to streamline processes, increase efficiency and reduce costs? These debates have been ongoing for too long without any real action taking place. Here too, there is another point of division between the Europeans. Macron is focused on pushing forward military systems designed and manufactured within Europe. However, other European leaders have voiced concerns that excluding US arms makers from EU subsidies could provoke Trump. I believe Macron's position is too shallow and once again evades the real strategic outcomes to focus on the wrong issue. This is why, realistically, an all-European solution is not the right option. The real reflection should be on how US military systems can enhance the lethality of the European armies and vice versa. So, Europeans should move away from sterile and futile debates that will stay purely as debates and focus instead on their real strategic interests and the will to achieve. This would garner respect and strengthen the alliance with the US. The fact that Europeans are caught between East and West reminds me of the Aesop Fable 'The Ant and the Grasshopper,' as retold by Jean de la Fontaine. The short story goes that the ant worked hard all summer while the grasshopper danced and sang. And as winter arrived, the latter asked the former for help, to which it answered: 'You were singing? I'm glad to hear it. Well then, dance now.' Europe is facing winter and it is time to build. - Khaled Abou Zahr is the founder of SpaceQuest Ventures, a space-focused investment platform. He is CEO of EurabiaMedia and editor of Al-Watan Al-Arabi.
