Core of China-India industrial cooperation lies at the local level, says Chinese Ambassador
Updated: Jun 10, 2015 05:14:10pm
New Delhi, June 10 (KNN) Trade deficit between India and China is huge and not sustainable, DIPP Secretary Amitabh Kant said today adding that to correct this trade imbalance, it was necessary that Chinese industry invests and manufactures in India, instead of exporting its products to India.
Meanwhile, Le Yucheng, Ambassador, Embassy of People’s Republic of China in India, said the core of China-India industrial cooperation lies at the local level, as this is where the greatest potential lies.
The governments of India and China have showcased the political will to take its economic relationship to the next level by providing dynamism and momentum to investment projects. It was evident from the success of Prime Minister Narendra Modi’s recent visit to China that the two countries were ready to explore opportunities to strengthen their bilateral link, Kant said this while addressing a seminar on ‘India-China Industrial Cooperation’ organized by FICCI in partnership with the Embassy of the People’s Republic of China.
Kant said that between the two nations there is a huge trade deficit, which is not sustainable. The exports to China from India had been only USD 14.8 billion whereas imports from China stood at nearly USD 51 billion.
To correct this trade imbalance, it was necessary that Chinese industry invests and manufactures in India, instead of exporting its products to India, he said.
He said that China had the ability to rapidly create world-class infrastructure and possessed liquidity to finance long term projects.
Kant suggested that the Chinese industry could finance long term infrastructure projects and bring its cutting-edge technology to India. China was the factory of the world and India was the back office. Together the two could bring progress and prosperity for its people.
Citing the example of Chairman of Dalian Wanda Group, Wang Jianlin, Kant said that the commercial and real estate giant of China, had expressed desire to build five industrial parks in India. He added that India should learn from the ambitious spirit of Chinese entrepreneurs, who think big and have a long term vision.
Yucheng, said that the three keys to advance industrial cooperation between India and China were infrastructure and manufacturing, focus at the local level by China, exploring India’s domestic market and business community.
Yucheng said that the core of China-India industrial cooperation lies at the local level, as this is where the greatest potential lies. Sub-national cooperation was an effective way to tap into the full potential of different regions. He added that India and China were now witnessing a new wave of business cooperation between the two countries with many success stories.
Jyotsna Suri, President, FICCI, said it was heartening to note that several agreements were signed including business MoUs worth more than USD 20 billion during Prime Minister Modi’s visit to China last month to further the partnership between the two nations. (KNN Bureau)
Meanwhile, Le Yucheng, Ambassador, Embassy of People’s Republic of China in India, said the core of China-India industrial cooperation lies at the local level, as this is where the greatest potential lies.
The governments of India and China have showcased the political will to take its economic relationship to the next level by providing dynamism and momentum to investment projects. It was evident from the success of Prime Minister Narendra Modi’s recent visit to China that the two countries were ready to explore opportunities to strengthen their bilateral link, Kant said this while addressing a seminar on ‘India-China Industrial Cooperation’ organized by FICCI in partnership with the Embassy of the People’s Republic of China.
Kant said that between the two nations there is a huge trade deficit, which is not sustainable. The exports to China from India had been only USD 14.8 billion whereas imports from China stood at nearly USD 51 billion.
To correct this trade imbalance, it was necessary that Chinese industry invests and manufactures in India, instead of exporting its products to India, he said.
He said that China had the ability to rapidly create world-class infrastructure and possessed liquidity to finance long term projects.
Kant suggested that the Chinese industry could finance long term infrastructure projects and bring its cutting-edge technology to India. China was the factory of the world and India was the back office. Together the two could bring progress and prosperity for its people.
Citing the example of Chairman of Dalian Wanda Group, Wang Jianlin, Kant said that the commercial and real estate giant of China, had expressed desire to build five industrial parks in India. He added that India should learn from the ambitious spirit of Chinese entrepreneurs, who think big and have a long term vision.
Yucheng, said that the three keys to advance industrial cooperation between India and China were infrastructure and manufacturing, focus at the local level by China, exploring India’s domestic market and business community.
Yucheng said that the core of China-India industrial cooperation lies at the local level, as this is where the greatest potential lies. Sub-national cooperation was an effective way to tap into the full potential of different regions. He added that India and China were now witnessing a new wave of business cooperation between the two countries with many success stories.
Jyotsna Suri, President, FICCI, said it was heartening to note that several agreements were signed including business MoUs worth more than USD 20 billion during Prime Minister Modi’s visit to China last month to further the partnership between the two nations. (KNN Bureau)
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