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‘China, India should work together for world’s benefit in IT, production’

Posted on July 30, 2012
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PUNE: A visiting Chinese executive expressed hope that India and China would work together to explore their strengths in IT and manufacturing sectors respectively.

Li Siling, deputy director, China Executive Leadership Academy, was in the city on Wednesday to speak at a seminar on ‘Doing Business with China’, organized by the Confederation of Indian Industry (CII).

“India and China have their strengths in IT and manufacturing respectively. If they work together, they will not only serve each other but the whole world. India is known as world’s back office because of the great performance of the IT companies. Both countries need to work together, and for that to happen, initiatives like easy visa processing, more business ties can help,. China’s domain remains in manufacturing and infrastructure. Both countries can come together in these sectors and cater to each other’s needs and also serve the needs of the rest of the world,” said Siling.

Siling further said that the telecom sector in India is growing and it has the potential for expand further. “Another sector for Chinese companies to explore in India is infrastructure. A few Chinese companies are already engaged in setting up heavy thermal projects in the country. If governments’ of both countries take up trade more seriously, both countries can work together for prosperity,” he said.

Uma Ganesh, chief executive officer, Global Talent Track Pvt Ltd, Miao Huawei, deputy director, Trade Development Bureau, Ministry of Commerce, were also present.

Huawei said, “The trade from China to India involves a range of areas such as manufacturing and production machinery, electric equipment, chemicals, fertilizers, steel, plastic products and photography equipment. India supplies cotton, jewellery, a variety of ore and some oils and products from plants and animals to China. If the trade is promoted further, it is expected to be around $100 billion by 2015. Some 4,000 Chinese companies have their units and offices in India so far.”

In the last financial year, Chinese companies invested $95.2 million in India. During the same period, investment from India in China was $42.1 million, said Huawei.

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