Chinese delegation woos Indian SMEs to Wuhan
Updated: Nov 25, 2013 05:43:37pm
The seven member delegation comprising of senior officials from Wuhan visited Federation of Indian Micro and Small & Medium Enterprises (FISME) in New Delhi today. The visit was coordinated by the China Council for the Promotion of International Trade (CCPIT), Wuhan.
According to Wen Lei, Division Chief of Wuhan Municipal Commission of Economy and Information and leader of delegation, the strategic location of Wuhan- at the bank of mighty Yangtze river and accessible by land, air and waterways, makes it one of the most attractive business destinations.
Giving a glimpse as to why China continues to attract investments, Wuhan Investment Promotion Bureau District highlighted the readiness of the local government to provide developed industrial space and ready to move infrastructure- fully loaded with power, gas and road networks, at the rates ranging from very economical to ‘free’ for all type of industries. To the high-tech industries such as IT and BT, it can also provide free space. Wuhan also offers lucrative tax incentives to investors and forgoes tax during initial 3-5 years for startups.
The interaction of Indian SMEs with China has grown manifold with establishment of FISME’s office in Shanghai this year. FISME is also sending a large contingent to Automechanika 2013- one of the largest trade fairs of automobile sector in the world in December.
Welcoming the delegation, Chandra Shekhar Goel, Treasurer of FISME, assured the visitors of mounting a large delegation to Wuhan for exploring business opportunities for Indian SMEs next year. (KNN/AB)