Business Daily from THE HINDU group of publications
Thursday, Nov 23, 2006
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Business Daily from THE HINDU group of publications Thursday, Nov 23, 2006 ePaper |
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Foreign Relations Industry & Economy - Foreign Trade India, China biz teams get to know each other Our Bureau
Biz prospects 90 Chinese biz delegates met with around 110 representatives of 65 Indian cos Decide to extend co-operation in bilateral trade
Mumbai , Nov 22 Business representatives of the two most talked about global growth markets met across the table when 90 business delegates from China met with around 110 representatives of 65 Indian companies to discuss business. This was at the interactive session, `India-China: Seeking new business opportunities' organised by the CII and China Council for Promotion of International Trade (CCPIT). Chinese representatives from individual sectors held separate round table meetings at the Taj Mahal Palace & Towers Hotel. Mr Zhang Ming Feng, President, China Sichuan International Co-operation Company, said, "This is just an opportunity to learn and understand each other in a better way. Business will come later and tie-ups and joint ventures will come much after that." "In areas like IT, where China is strong on the hardware and India on software, the two countries should combine their respective strengths and work together," said Mr Wan Jifei, Chairman, CCPIT. In his presentation titled, `Indian industry: Manufacturing capabilities', Mr Ramesh Mangaleshwaram, Partner, McKinsey & Company, spoke of the complimentary skills that China and India enjoyed, and how the same would help them be globally competitive. "The importance of manufacturing sector is evident from the rate at which China has grown over the years. High domestic demand in China leads to growth in manufacturing. This, in turn, has played a major role in the GDP growth of that country," said Mr Mangaleshwaram. Speaking about the `complimentary skills' of India and China, he said, "China, with a growing domestic market, is good at manufacturing in huge volumes, Indian companies are good on skill sets. India has superior engineering skills."
Mutual co-operation
Delegates of both the countries have decided to extend co-operation in areas like bilateral trade, science and technology, coal, steel civil aviation, shipping, banking, tourism, investment protection and promotion, trade facilitation, avoidance of double taxation and co-operation on WTO issues.
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