The Hindu : Tamil Nadu / Chennai News : Meet for India, China synergy in trade

Online edition of India's National Newspaper
Saturday, May 13, 2006

Tamil Nadu

Tamil Nadu - Chennai

Meet for India, China synergy in trade

Staff Reporter

"Many Chinese conglomerates looking keenly at the Indian market"

CHINESE TEAM: FICCI leaders, including its State Council chairman, M. Rafeeque Ahmed (left) with members of a visiting Chinese delegation and Director of TN Industrial guidance and Export promotion bureau, M. Velmurugan (second from left). — P hoto : N_Sridharan

CHENNAI: India and China stood to gain significantly by striking synergies in trade and business, speakers at a meeting to host a visiting Chinese business delegation on Friday said.

"One plus one will be more than two" in the event of the two countries, whose economies were rapidly growing, strengthening their economic cooperation, Li Ke, Secretary-General of Asia Capital Forum, told the meet, organised by the Tamil Nadu Council of the Federation of Indian Chambers of Commerce and Industry.

China was also emerging as a potential outward investor. Both state-owned and private companies were beginning to realise the benefits of investing abroad. India could be a major beneficiary of an anticipated surge in such overseas investment by Chinese companies if it was ready to exploit the synergies with the right policies and approach.

The growing competition at home was making Chinese companies seek markets abroad and develop global brands. By coming together and drawing on their advantages, India and China could not only make a strong regional impact but also make a mark in the world. Many Chinese conglomerates were looking keenly at the Indian market as part of their "go-out" strategy and planning to enter it, Mr. Li said.

Exploring opportunities

Sun Dongxing, vice-director of United Front Officer of Bengbu Municipal Committee, said the delegation was exploring opportunities in many fields including chemicals, pharmaceuticals and textiles.

M. Rafeeque Ahmed, FICCI State Council chairman, said India-China collaboration and cooperation could take place at the multilateral level giving shape to a new world order, at the level of bilateral trade and investment and in the emerging areas of knowledge-based industries. M. Velmurugan, director, Tamil Nadu Industrial Guidance and Export Promotion, spoke.

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