China-India bilateral trade increases
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One of the largest ever business delegation from India led by Minister of State for Commerce & Industry, Mr. Jyotiraditya M Scindia was in Shanghai from 17th August to 19th August 2010 on occasion of National Day of India at Shanghai World Expo. An India Business Forum was also held on this occasion on 19 August 2010. The 90 member strong Business Delegation had members from CII, FICCI, ASSOCHAM and NASSCOM, covering a wide variety of sectors from IT to Pharma, Engineering and Real Estate.
Dr S Jaishankar, Indian Ambassador to China, addressing the India Business Forum on the occasion of the National Day of India at World Expo 2010 in Shanghai on August 19, called upon Indian and Chinese enterprises to avail the huge trade and investment opportunities in the two countries and work towards strengthening bilateral relationship. The forum also marks 60 years of diplomatic relations between India and China. He asked Chinese business to be more open to opportunities offered by Indian companies and to Indian industry to pay more attention and energy to the Chinese market.
Dr Sha Hailin, Chairman Shanghai Municipal Commission of Commerce observed that economic and trade co-operation between India and China has increased rapidly and trade between India and Shanghai has also grown substantially. Shanghai has 89 Indian projects and there are several Shanghai-based Chinese companies executing projects in India. He hoped the forum will help push the trade relations to a higher level. He invited Indian companies to invest in Shanghai.
In his inaugural address, Mr B Muthuraman, Vice President, Confederation of Indian Industry (CII) and leader of Indian business delegation for the Business Forum said that the Shanghai Expo was being held at a time when the world economy is still passing through the after affects of the global economic and financial crisis of the last two years. India is now viewed globally as an engine of growth along with China for the world economy, where the dimensions of manufacturing and services sectors were evolving rapidly, "Indian industry would like more Indian manufacturing companies to invest in China in sectors like pharmaceuticals, machineries and engineering products to tap the huge Chinese domestic market as also for export to other countries", observed Mr Muthuraman.
Mme Yao Wenping, Vice President, China Chamber of Commerce for Import & Export for Machinery & Electronic Products, emphasized the need for greater business exchanges between the two countries. CCCME would like to leverage this relationship for better investment and trade between India and China.
Dr Subas Pani, Chairman India Trade Promotion Organization，briefed the audience on India's participation at the Shanghai World Expo 2010 and on the India Pavilion at the Expo. India's theme at the Expo is 'Cities of Harmony'. Harmony with nature and use of natural materials and the integration of the five elements of nature are central to the India Pavilion.
Mrs. Riva Ganguly Das, in her concluding remarks highlighted that though there are issues and challenges to be dealt with, the message from the forum is that trade and economic relations are powerful relation builders.
Presentations were made on investment opportunities in India, Information Technology, Manufacturing, Urban Planning and Real Estate Development and Pharmaceuticals and Chemicals.
The Forum was attended by over 400 participants including Chinese industry, government officials, media, Indian companies based in China and members of the Indian business delegation.
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