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New Delhi: <keyword id="20845764" type="General" weightage="100" keywordseo="Indias-startup-ecosystem" source="keywords">India's startup ecosystem</keyword> experienced a surge in <keyword id="19913965" type="General" weightage="20" keywordseo="venture-capital" source="keywords">venture capital</keyword> (VC) funding during the first seven months of 2024, raising a total of USD 6.3 billion through 672 deals. This marks a 42.1 per cent year-on-year (YoY) increase in funding value, despite a modest 1.2 per cent rise in deal volume, according to a report by <keyword id="19910824" type="General" weightage="20" keywordseo="GlobalData" source="keywords" meta.keywordsubtype="org" meta.entityname="GlobalData" meta.hostid="261" meta.entityid="GlobalData">GlobalData</keyword>. The uptick in funding underscores investor confidence in India's <keyword id="21354516" type="General" weightage="20" keywordseo="startup-landscape" source="keywords">startup landscape</keyword>, even as global market conditions remain cautious. An analysis of GlobalData's Deals Database reveals that during the same period in 2023, India saw 664 VC deals with a disclosed funding value of USD 4.4 billion. Aurojyoti Bose, Lead Analyst at GlobalData, commented on the findings and said, "The massive jump in funding value, despite a modest 1.2 per cent growth in deal volume, can be attributed to some of the big-ticket deals announced during the review period. This also proves that even though VC investors remain cautious there is no dearth of money for promising startups." Some of the most notable <keyword id="20948843" type="General" weightage="20" keywordseo="VC-funding" source="keywords">VC funding</keyword> deals in India during January-July 2024 include USD 665 million raised by Zepto, USD 300 million by Meesho, USD 216 million by PharmEasy, USD 150 million by Radiance, USD 148 million by Kogta Financial, and USD 120 million by Rapido. India continues to stand out as a key player in the Asia-Pacific (APAC) region for VC funding, trailing only China. It is also among the top five global markets in terms of both VC deal volume and value. During the January-July 2024 period, India accounted for 7 per cent of the total VC deals announced worldwide, while its share of the disclosed funding value was 4.3 per cent. Bose concluded, "Despite global economic uncertainties, India remains a pivotal market for VC activity, driven by a robust pipeline of promising startups that continue to attract significant capital. This trend reinforces India's position as a critical player in the global venture ecosystem, demonstrating resilience and growth even amid cautious investment sentiment."

First 7 months of FY25 see significant surge in VC funding to India's startups: GlobalData

The <keyword id="47276" type="General" weightage="20" keywordseo="economic-growth" source="Orion">economic growth</keyword> in <keyword id="119132" type="General" weightage="20" keywordseo="asia-pacific" source="Orion">Asia Pacific</keyword> will remain strong in 2024 and GDP is expected to grow by about 5 per cent in India and a host of emerging market countries, <keyword id="82981" type="General" weightage="20" keywordseo="fitch" source="Orion">Fitch</keyword> Ratings said on Wednesday. In its report titled '<keyword id="156416" type="General" weightage="20" keywordseo="apac" source="Orion">APAC</keyword> Cross-Sector Outlook 2024', Fitch said the outlooks for the banking sectors in India and Indonesia, as well as APAC emerging markets as a whole, move to improving in 2024, partly reflecting the robust economic backdrop. "Economic growth in APAC will generally remain strong in 2024, especially in emerging markets (EMs), supporting sector outlooks across the region. We expect real GDP to expand by, or above, 5 per cent in India, Indonesia, the Philippines and Vietnam, and China's performance will still be strong by most other countries' standards," Fitch said. The <keyword id="6356076" type="General" weightage="20" keywordseo="indian-economy" source="Orion">Indian economy</keyword> grew 7.2 per cent in 2022-23 fiscal year. India's GDP expanded 7.8 per cent and 7.6 per cent in the June and September quarters, respectively. Fitch had last month said it expects India to be among the world's fastest-growing large sovereigns, with resilient GDP growth of 6.9 per cent this fiscal, followed by 6.5 per cent in 2024-25. "Robust regional economic growth - particularly in Asia's large emerging markets - should offset headwinds from slowing growth in China, weak global demand and high interest rates, helping to support performance across sectors in APAC in 2024," Fitch Ratings Senior Director Duncan Innes-Ker said. Fitch said headwinds from slower Chinese growth, weak global demand and higher interest burdens following the rise in interest rates over 2022-23 will weigh on performance for many sectors. But the bulk of Fitch's APAC sector outlooks for 2024 remain neutral. "Sino-US tensions have eased recently, but we expect relations to remain challenging, which will lead companies to pursue further supply-chain diversification to limit exposure to geopolitical risks," Fitch said.

Growth in Asia Pacific emerging markets to remain strong in 2024: Fitch

<ul class="summary-list"><li>Russia this week launched large-scale naval and air drills with China.</li><li>Military cooperation between the two powers is growing.</li></ul>China and Russia have long railed against what they claim is the malign influence of US power. Now, they're sending a signal to the West that they have the combined military strength to challenge <keyword id="22115694" type="General" weightage="20" keywordseo="US-dominance" source="keywords">US dominance</keyword>. On Tuesday, the Russian military launched large-scale naval and air drills in the <keyword id="21182587" type="General" weightage="20" keywordseo="Sea-of-Japan" source="keywords">Sea of Japan</keyword> alongside China. Taking place in the Pacific and Arctic Oceans, the Mediterranean, Caspian, and Baltic Seas, the "Ocean-24" exercise is massive in scale. According to the Russian Defense Ministry, it involves more than 400 warships, submarines, and support vessels, more than 120 planes and helicopters, and more than 90,000 troops. "This exercise aims to deepen the <keyword id="20275236" type="General" weightage="20" keywordseo="strategic-cooperation" source="keywords">strategic cooperation</keyword> level between the Chinese and Russian militaries and enhance their ability to jointly deal with security threats," China's Defense Ministry said Monday, reported <a target="_blank" class="" href="https://www.themoscowtimes.com/2024/09/09/china-to-hold-military-drills-with-russia-this-month-a86302">the AFP newswire.</a> It's the second time in only three months that the powers have held joint <keyword id="20252562" type="General" weightage="20" keywordseo="military-exercises" source="keywords">military exercises</keyword>, with drills held near the southern Chinese port of Guangdong in July. It's a sign of the growing military alignment of the powers, with the <a target="_blank" class="" href="https://x.com/ChinaPowerCSIS/status/1821607307702108546">China Power Project finding</a> that of the 102 joint exercises held by the militaries since 2003, more than half took place in the last seven years. Graeme Thompson, an analyst with the Eurasia Group, told Business Insider that Russia and China were sending a message. "Russia's naval exercises are intended to signal that Moscow is still a global power that can operate in a range of blue-water theaters around the world," he said. "China's participation is part of a long-running trend of deeper Sino-Russian strategic cooperation and military integration." <h2>An <keyword id="23230129" type="General" weightage="20" keywordseo="anti-US" source="keywords">anti-US</keyword> axis</h2> <div type="image" title="Putin and Xi walking past a row of Chinese soldiers in full dress uniforms holding rifles and standing to attention" height="632" width="1024" msid="113295564" hostid="261"></div>On the eve of Russia's invasion of Ukraine, China's leader Xi Jinping and Russia's President Vladimir Putin declared a "no limits" partnership as part of their shared mission to challenge US global dominance. In the three years since, China has provided Russia with crucial diplomatic and economic support as it faced isolation over the Ukraine invasion, and, according to the US, is providing the Kremlin with increasing support for its weapons industry. In defiance of the West, both nations are flexing their power and showcasing their capacity to project military strength. The Pacific, where the US and its allies, including <a target="_blank" href="https://www.businessinsider.com/us-aircraft-carrier-south-korea-north-korea-russia-putin-kim-2024-6">South Korea and Japan, have a major</a> naval presence, is a potential flash point. The joint exercises are taking place in the Sea of Japan and Sea of Japan and the Sea of Okhotsk. China and Russia both have territorial disputes with Japan, while China is menacing Taiwan with invasion, a move that could trigger conflict with the US. "There's clearly an intention on the part of Beijing and Moscow to show that they can jointly project power in the Indo-Pacific," Thompson said. China's continuing to strengthen its partnership with Russia despite increasingly stark criticism<a target="_blank" class="" href="https://www.businessinsider.com/nato-accused-china-supplying-russia-arms-components-ukraine-war-2024-7"> from the West.</a> The July military exercises came after NATO accused China of being a "decisive enabler" of Russia's war in Ukraine. <h2>Great power competition intensifies</h2> <div type="image" title="A large explosion behind two US military armoured vehicles during a military show in Alaska" height="683" width="1024" msid="113295563" hostid="261"></div>Some experts are warning that joint Russian and Chinese military strength poses a serious challenge to the West. It's a potential threat on a scale the US hasn't faced in decades, with its military focused on fighting militant groups in the face of chaos in the Middle East. "A full-scale China-Russia alliance would present the United States with a threat unlike any it has confronted since the end of the Cold War," analyst Chels Michta wrote in an <a target="_blank" href="https://cepa.org/author/chels-michta/">article for the Center for European Policy Analysis last November.</a> The Congressional Commission on the Strategic Posture of the United<a target="_blank" href="https://www.ida.org/-/media/feature/publications/A/Am/Americas%20Strategic%20Posture/Strategic-Posture-Commission-Report.pdf"> States last October </a>urged the Pentagon to urgently revise its strategy so it could potentially fight both powers at the same time. Some analysts, though, are pointing to tensions between Russia and China that could weaken the alliance. Russia has become a junior partner to Xi's China, and it is increasingly reliant on it to keep its war machine and economy running. And China is likely using the war in Ukraine for its own purposes, to weaken and distract the West as it plans a possible attack on Taiwan, analysts at the <a target="_blank" class="" href="https://www.rusi.org/explore-our-research/publications/commentary/russia-and-china-true-nature-their-cooperation">Royal United Services Institute in the UK wrote in July.</a> But for now, the alliance is growing closer, and Thompson said that the US would be watching the latest military exercises between Russia and China closely. "This is yet another signal that the geopolitical environment continues to deteriorate amid ongoing great power competition," he said. Correction: September 12, 2024 — An earlier version of this story misspelled the surname of an analyst with the Eurasia Group. It's Thompson, not Thomson.

Russia and China's anti-US alliance is growing even more threatening

<ul class="summary-list"><li>Donald Trump might have upended the veepstakes tradition when he picked JD Vance as his running mate.</li><li>Vance, who holds remarkably similar political views to Trump, isn't going to "balance the ticket."</li></ul>Former President <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-luck-classified-documents-assassination-debate-2024-7">Donald Trump</a> upended the election tradition of "<a target="_blank" class="" href="https://www.businessinsider.com/trump-flipped-script-jd-vance-not-aimed-balancing-president-ticket-2024-7">balancing the ticket</a>" when he picked Ohio Sen. <a target="_blank" class="" href="https://www.businessinsider.com/trump-vice-president-jd-vance-career-facts-2024-7">JD Vance</a> as his running mate. But the MAGA pair is unlikely to disrupt the calculus for an Asia that's already preparing for the possibility of his victory in November, experts say.Vance, a former Trump critic turned MAGA stalwart, has voiced foreign policy views in lockstep with Trump. Both men <a target="_blank" class="" href="https://www.businessinsider.com/where-does-trump-vance-stand-on-china-tariffs-inflation-taxes-2024-7">support wide tariffs on China</a> and have <a target="_blank" class="" href="https://www.businessinsider.com/trumps-running-mate-jd-vance-ukraine-worst-nightmare-analysis-2024-7">criticized US aid to Ukraine</a>.Yet three experts on the Asia-Pacific told Business Insider that regional leaders — having learned from Trump's shock win in 2016 and his subsequent unpredictability — are already laying the groundwork for a scenario where he wins.<h2 id="d60358f2-bcd9-4253-90a1-8c07028ce812">Asia won't be surprised by a Trump-Vance administration</h2>"It would be quite irresponsible if they didn't already countenance this, and I think, to be honest, we will not see the overreactions that we saw earlier or in parts of Europe," said <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://dr.ntu.edu.sg/cris/rp/rp00194">Dylan Loh</a>, assistant professor of public policy and international studies at Singapore's Nanyang Technological University (NTU).Trump previously <a target="_blank" class="" href="https://www.businessinsider.com/trump-tpp-trans-pacific-partnership-what-it-means-2017-1">reneged on deals</a> he felt were disadvantageous to the US and pressured allies like <a target="_blank" class="" href="https://foreignpolicy.com/2019/11/15/trump-asks-tokyo-quadruple-payments-us-troops-japan/">Japan</a> and <a target="_blank" class="" href="https://www.businessinsider.com/trump-thaad-south-korea-2017-4">South Korea</a> to support US defense costs.But Loh believes regional stability will prevail."I think Trump's tenure has shown that fears of abandonment or ignorance of politics in Asia are overblown," he said.The most prominent US-aligned governments in Japan, South Korea, Taiwan, and the Philippines have been hedging their bets and working carefully to make their economies and supply chains more resilient, said <a target="_blank" class="" href="https://discovery.nus.edu.sg/2380-ja-ian-chong">Chong Ja Ian</a>, a political science professor at the National University of Singapore."Other Southeast Asian states seem to believe they can weather another Trump administration, perhaps by freezing on the efforts of the northeast Asian US allies and partners plus the Philippines," he said.It's not just economics. The Philippines, for example, <a target="_blank" class="" href="https://www.cnbc.com/2024/07/09/japan-and-the-philippines-sign-landmark-defense-deal-to-counter-china-.html">inked a new defense pact with Japan</a> in July as it grapples with the threat of an increasingly belligerent China in the South China Sea. This comes as the Philippines signs maritime agreements with key NATO countries <a target="_blank" class="" href="https://ipdefenseforum.com/2024/04/philippines-u-k-strengthen-ties-to-boost-maritime-security-cooperation/">like the UK</a> and <a target="_blank" class="" href="https://newsinfo.inquirer.net/1692751/ph-france-sign-agreement-strengthening-maritime-industry">France</a>.<h2 id="d23ca00c-37ca-4167-bbb6-cebb083b0d0f">US-China relations won't change much, whether it's Trump or Biden at the wheel</h2>Even though Trump started the US-China trade war, experts say that China won't be too bothered if he returns to the White House.This, NTU's Loh said, is because President Joe Biden hasn't really deviated from Trump's hawkish stance against the Asian giant.For one, the Biden administration has <a target="_blank" class="" href="https://www.businessinsider.com/china-tariffs-trade-restrictions-budget-deficit-biden-trump-stephen-roach-2024-7">kept most of Trump's China tariffs in place</a>. In fact, Biden introduced some of his own when he announced a <a target="_blank" class="" href="https://www.businessinsider.com/white-house-joe-biden-hikes-tariffs-on-chinese-made-evs-2024-5">100% tariff on Chinese electric vehicles</a> in May."For China, any preferences for either Trump or Biden is going to be marginal," Loh said."I think it is quite clear that regardless of whether a Democrat or a Republican is in office, the general bipartisan mood of seeing China as a threat or a strategic competitor will not abate," he added.<a target="_blank" class="" href="https://www.rsis.edu.sg/profile/kevin-chen-xian-an/">Kevin Chen</a>, a research fellow at NTU's S. Rajaratnam School of International Studies, told BI that China may even prefer to have Trump back in power due to the turmoil he'll bring to the US' foreign ties."Given how Mr Trump would likely alienate US allies and partners with his policies, Beijing may prefer that he retake the White House to give them more opportunities to spread their influence," Chen explained.That said, most Asia-Pacific countries will shy away from appearing to take sides or expressing relief if either candidate wins."There's a joke in Japanese diplomatic circles that the outcome of a US presidential election is like opening a Christmas present, except that they must express that 'this is exactly what I wanted' regardless of the result," Chen said.

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First 7 months of FY25 see significant surge in VC funding to India's startups: GlobalData

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Growth in Asia Pacific emerging markets to remain strong in 2024: Fitch

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Russia and China's anti-US alliance is growing even more threatening

Tom Porter

Asia is preparing for a rogue US if Trump and Vance win the election, security and foreign policy experts say

Matthew Loh,Kwan Wei Kevin Tan

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