Chinese investors’ interest enhanced
The interest of Chinese companies in investing in India has enhanced significantly following the simplification of laws and regulations and Indian government’s determined stance to attract Foreign Direct Investment (FDI).
#Lu Xinhua, Vice Chairman of the #CPPCC Foreign Affairs Committee, said this at the “#China-India Business Meeting for Investment and Trade”, which was organized by the #Federation of Indian Chambers of Commerce and Industry (FICCI).
With globalization, China and India have emerged as one of the largest and attractive destination for FDI, said Xinhua, who is a former #Vice Foreign Minister of China.
“Thus, it is imperative for the two nations to grasp the emerging opportunities,” he stressed at the meeting organized in association with the #Embassy of People’s Republic of China in India.
He is leading a high-powered business delegation from #Council for Promoting South-South Cooperation (CPSSC) to India with representatives from diverse sectors such as finance, investment, railway construction, power generation, electronic products, project coordination, real estate, waste management, commerce, medical equipment, lighting, industrial cable, culture and education.
The aim of the delegation members was to forge beneficial partnerships with their Indian counterparts, he said.
As FICCI is assisting the Indian government to improve its business climate, CPPCC was also actively promoting Chinese businesses, added Xinhua, hoping the B2B sessions organized between Indian and Chinese industry leaders would yield fruitful partnerships.
Issue of trade deficit between India and China needs to be addressed and therefore promoting business, trade and investment was necessary between the two countries, elaborated Liu Jinsong, #Minister Counsellor at the Chinese Embassy.
He assured that the leaders of the two nations were committed and looked at India-China relationship as a strategic partnership.
Liu said that with globalization, uncertainties have crept in business scenario, which required stronger promotion of trade and investment between India and China.
Bilateral trade between India and China have crossed US$70 billion during 2015-16, India’s trade deficit with China stood at US$53 billion.
This provided immense opportunity for China to play a constructive role to rebalance the bilateral trade, said #Sidharth Birla, Past President, FICCI and Chairman, #XPRO India Ltd.
“Out of the total US$288.51 billion FDI equity inflows that India received during April 2000 – March 2016, China contributed US$1.36 billion. This means that there is again immense potential to increase Chinese investment to India,” he said.
In terms of Purchasing Power Parity (PPP), China and India were the first and third largest economies of the world respectively, said Birla.
“Considering their contribution to the global economy and trade, their bilateral relations would largely define and drive the global economic agendas,” he said. fii-news.com
