Assocham & Chinese SMEs sign MoUs to explore greater business ties
Updated: Aug 28, 2014 12:50:04pm
New Delhi, Aug 28 (KNN) The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and SME Bureau China have signed as many as five Memorandums of understanding in different sectors to promote and help the SMEs in both countries to exchange technologies and enter joint ventures (JVs).
The MoUs were signed by Director General, SME Bureau China, Wu Xiaochun and Secretary General, ASSOCHAM D S Rawat, here yesterday.
The areas identified were processed food, cosmetics, rubber, plastics, textiles, machines for garment industry, and small scale plants for a range of consumer durables among others. Tooling and Process machinery for painting, plating and coating also have enormous opportunities, an official release said.
The bilateral trade between the two countries reached USD 75.5 billion in 2011-12 with trade deficit of about USD 40 Bn. With the growth in bilateral trade between India and China in the last few years; many Indian companies have started setting up Chinese operations to service both their Indian and MNC clientele in China.
The trade deficit with China stands at USD 36.21 billion in 2013-14. This can be reduced to sustainable levels through more exports from India to China as well as China’s investing in building manufacturing capacities in India, it said.
Rawat said that India and China will identify business opportunities in the small and medium enterprises (SMEs) segment across a wide range of sectors from agricultural products to textiles and machinery.
“China ranks 31 among countries contributing FDI to India. FDI inflows from China into India currently stand at USD 0.575 billion while that from India to China reached USD 0.898 billion”, according to an ASSOCHAM paper.
The delegation also focussed on strengthening ‘smart manufacturing’, solar energy, green houses/technologies, railway infrastructure supply stations buildings, and escalators for railway metro stations.
ASSOCHAM will be holding a summit for Chinese companies to invest in India.
Some of the major Chinese companies present here are Huawei, ZTE, Haier, Sino Steel, Lenovo, Beijing Automotive Industrial Corporation, Xindia Steel and SANY among others.
India also seeks access for Indian IT and pharmaceuticals companies into the Chinese market.
ASSOCHAM shall also be organising two exhibitions in two provinces of China in Guangdong and Chengdu during October this year. (KNN/ES)
The MoUs were signed by Director General, SME Bureau China, Wu Xiaochun and Secretary General, ASSOCHAM D S Rawat, here yesterday.
The areas identified were processed food, cosmetics, rubber, plastics, textiles, machines for garment industry, and small scale plants for a range of consumer durables among others. Tooling and Process machinery for painting, plating and coating also have enormous opportunities, an official release said.
The bilateral trade between the two countries reached USD 75.5 billion in 2011-12 with trade deficit of about USD 40 Bn. With the growth in bilateral trade between India and China in the last few years; many Indian companies have started setting up Chinese operations to service both their Indian and MNC clientele in China.
The trade deficit with China stands at USD 36.21 billion in 2013-14. This can be reduced to sustainable levels through more exports from India to China as well as China’s investing in building manufacturing capacities in India, it said.
Rawat said that India and China will identify business opportunities in the small and medium enterprises (SMEs) segment across a wide range of sectors from agricultural products to textiles and machinery.
“China ranks 31 among countries contributing FDI to India. FDI inflows from China into India currently stand at USD 0.575 billion while that from India to China reached USD 0.898 billion”, according to an ASSOCHAM paper.
The delegation also focussed on strengthening ‘smart manufacturing’, solar energy, green houses/technologies, railway infrastructure supply stations buildings, and escalators for railway metro stations.
ASSOCHAM will be holding a summit for Chinese companies to invest in India.
Some of the major Chinese companies present here are Huawei, ZTE, Haier, Sino Steel, Lenovo, Beijing Automotive Industrial Corporation, Xindia Steel and SANY among others.
India also seeks access for Indian IT and pharmaceuticals companies into the Chinese market.
ASSOCHAM shall also be organising two exhibitions in two provinces of China in Guangdong and Chengdu during October this year. (KNN/ES)
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