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China invites Indian industrialists

NEW DELHI: Seeking closer business and economic collaboration, Chinese industrialists and businessmen have invited their Indian counterparts to invest in their country.

“China and India are the world’s two fastest growing economies and both coming together will not only benefit the two countries but also the entire Asian continent,” Chen Xiuxian, Director-General of the China Yiwu International Commodities Fair (CYICF) told The Hindu. As head of a joint delegation of CYICF and the Association of CHINDIA Economic and Cultural Promotion, Ms. Chen is in India to promote the Yiwu fair to be held in October.

“India is one of the most important and crucial markets for us and we want more and more Indian entrepreneurs to participate in the prestigious fair,” she said.

Approved by the State Council of the People’s Republic of China and sponsored by the Chinese Commerce Ministry and Zhejiang Provincial People’s government, the fair is an international exhibition of daily consumer goods.

According to Ms. Chen: “This platform could emerge as a two-way traffic for the growth of industry in both countries. Chinese industrialists, after tapping markets in the U.S. and the European Union, are now looking towards India in view of its booming economy. Industry in India and China have more potential and space for growth and this is bound to increase.”

“India has a high reputation in Yiwu and its huge market had attracted a number of Indian businessmen to carve out their own business,” Ms. Chen added.

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