Indo-Chinese business ties set to improve | SupportBiz

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Indo-Chinese business ties set to improve

 
The India-China Economic and Cultural Council (ICEC Council), on January 10, 2013, hosted a high-powered business delegation from China, which is expected to travel across India to explore trade and investment opportunities.

This event was organised jointly by the Chinese Embassy in India and the Federation of Indian Export Organisations.

With the aim of promoting economic, trade, cultural and academic exchanges and co-operation between South Asian countries and China, an announcement for the first China South Asia Exposition was also made at the event.

Welcoming the audience, Peng Gang, Economic Counselor, Embassy of People’s Republic of China, stated that the upcoming exhibition will be an excellent opportunity to extend the existing business co-operation between Yunnan province and India.

Peng said, “The governments of both the countries are keen to facilitate more trade and investments. In recent years, relations between India and China have been developing positively in an all-round manner. Leaders and business stakeholders from both countries have been contributing significantly to this end.”

“The upcoming first session of the China-South Asia Exposition is another concrete step taken by the Chinese government to promote international trade between China and South Asian countries,” he added.

Highlighting the potential of China as an emerging market for Indian businesses, Ajay Sahai, Director General, Federation of Indian Export Organization (FIEO), said, “Industries across the world, including India, are focusing on China as an emerging market, particularly in sectors absorbing a large labour force. The shift is taking place from commodity exports to manufactured goods, but India has to move to the value-added segment of exports. This would be the only way to reduce the widening trade deficit.”

Stressing the importance of a common dialogue between India and China, Mohammed Saqib, Secretary General – ICEC Council, stated that the seminar has thrown significant light on the Yunnan, especially on the business opportunities existing there. He stated that such interactions should be held often, as they would go a long way towards bridging the gap between both countries.

“The ICEC Council is aggressively working towards creating a business-friendly atmosphere for Indian companies who wish to work with Chinese firms. Our council provides professional advisory services to industry members,” he added.  

Saqib also stated, “In today’s competitive world, it is important for Indian small businesses to look at exploring opportunities for developing something innovative, more contemporary and cost-effective for their respective markets. Indian and Chinese businesses must adopt a collaborative approach in order to capture bigger global opportunities.”

PC Sabharwal, Senior Advisor of the World Association for Small and Medium Enterprises (WASME), mentioned, “The time has come for us to look at the success story of China in the past one decade or so. Indian businesses must innovate and come up with something extremely appealing to their customers. This can be easily done through a collaborative approach.”

Chinese diplomats who attended the forum have invited Indian businesses to the 1st China-South Asia Exposition, which will be inaugurated in Kunming, China in June, 2013, concurrently with the 21st China Kunming Import and Export Fair.