Industry chambers have remained conspicuously quiet during and about Chinese President Xi Jinping’s visit.

Industry bodies such as Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI) and Assocham are usually very vocal about their views and expectations during visits of foreign heads of state.

According to the people in the know, one reason could be that the Chinese President has not addressed a joint business session.

“Typically, all heads of state meet and address industry chambers in a joint business session. There was nothing of that sort this time,” the person told BusinessLine .

Industry bodies have also taken an anti-China stance in their studies and reports in the past.

China threat

For example, while seeking a higher import duty on steel products last year, Assocham had said, “The oversupply in international markets is forcing China and the Commonwealth of Independent States (CIS) to dump their steel products like hot rolled coils, cold rolled coils and other coated products into growing markets like India.”

CII’s Secretary-General Chandrajit Banerjee said earlier this week that India’s economic engagement with China was unsustainable and needs restructuring.

He had elaborated that Xi’s visit had the potential to redefine the relationship with India but pointed to the low level of Chinese investments at only $410 million.

In fact, the only industry event that took place in Delhi was signing of memorandum of understandings for 24 contracts worth $3.43 billion between Indian and Chinese companies across sectors like aircraft leasing and financing, telecom, chemicals, wind power component, cotton yarn and fabric, synthetic fibre and seafood.

The agreement was signed on Wednesday.

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