The Hindu Business Line : Henan province of China woos Indian investors

A high-level trade delegation, led by Mr Xie Sengfu, and Mr Li Chengyu, Governor of the province, is visiting States in India, scouting for collaborations.

Addressing a gathering of entrepreneurs at the Federation of Indian Chambers of Commerce and Industry (FICCI), Mr Sengfu said the centrally located province held good promise in fields such as information technology, bio-engineering, mechanics, food processing, automobiles and tourism.

Mr Sengfu and Mr Li Chengyu asked the FICCI to lead a business delegation to the Chinese province to see for itself the kind of opportunities the province offered.

Exports from Henan to India in 2002 and 2003 stood at $70.43 million and $79.88 million respectively, and imports from India were at $44 million and $99.58 million, growing at 51.1 per cent and 94.6 per cent respectively.

During the January-July this calendar year, exports were at $65.75 million and imports at $99.3 million.

"We have association with 140 countries with a total export-import volume of $4 billion. We are looking at $6 billion this year,"

He said low-cost human resources, a vibrant consuming market and sops to industries made Henan a potential destination for entrepreneurs.

The Henan delegation, which met the Andhra Pradesh Chief Minister on Wednesday, is also visiting Bangalore and Mumbai.

Mr C. Parthasarathy, Chairman of FICCI (AP State Council), said the bilateral trade between China and India was expected to reach $10 billion by the end of the financial year.

The total bilateral trade was $4.7 billion during 2002-03 ($2.97 billion).

There was a dramatic shift in the balance of trade in favour of India during April 2003-Jan 2004. India recorded exports to the tune of $3.28 billion as against $2.23 billion worth imports during the period.

During 2002-03, India's exports to China were at $1.9 billion as against imports of $2.7 billion.

Mr Parthasarathy said bilateral synergies could be enhanced in the areas of steel, IT, engineering, construction, biotechnology, tourism and financial services.