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India Inc to show
up in full strength in China
IT is a showtime
for India Inc in China. Realising the potential of business with
this large next door partner, leading industry chambers including
CII, Ficci and Assocham would accompany Prime Minister Atal Bihari
Vajpayee in full strength to China.
The PM’s business
delegation could finally tally over 90 chief executives representing
a cross-section of corporate India. While talking to newspersons
about the agenda, Ficci’s secretary general Amit Mitra said,
‘‘A large amount of informal trade takes place between India and
China which is almost half of the official trade. We will work on
converting this into formal trade by exchanging tariff lines on
items of mutual interest using regional arrangements.’’ The
current India-China bilateral trade stands at $5 billion. Ficci will
also focus on revitalising border trade.
Mitra said, ‘‘So far China has taken technology from the US and
Europe. However, India with its high-tech products and a vibrant
service sector can participate in niche areas in the Chinese economy
and establish its local identity. We should go for direct services
exports instead of services outsourcing by multinational
companies,’’ he added. Along with Ficci’s 25 member
delegation, a 10-member Assocham delegation led by its president R.K.
Somany would accompany the PM on his China visit.
The delegation,
aimed at forming partnerships with its Chinese counterparts, would
explore possibilities for establishing contacts with commodity-based
organisations to facilitate visits of the delegation subsequently.
The chamber would sponsor three delegations on telecommunication and
IT. The other issues on the agenda are the signing of a MoU on
easier visa regime and enhanced cooperation on IT sector.
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