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CII opens office in Shanghai
The Confederation of Indian Industry (CII) today opened an office in this industrial and commercial hub of modern China to boost bilateral trade and investment with the Asian giant.
The CII's East Asia representative office here was inaugurated by Information and Technology Minister Arun Shourie.
According to the CII, Indian companies have tremendous potential for growth in China in IT, IT-enabled services, autos, oil and gas, communications, pharmaceuticals besides other sectors.
"It is very important to be present in China. Indian companies are keen on doing business in China as the large market cannot be ignored," the Confederation said.
Making out a strong case for Indian businesses to enter China, the CII said it was mainly to tap the large domestic market available along with fully developed supply and demand chains.
"Indian companies can use China as a manufacturing base to benefit from the low cost of capital, excellent infrastructure and business friendly environment. This will, in the long term, enable them to use China as a base for entering other markets in Asean."
Already there has been a substantial increase in the Indian companies entering China in the last one year. However, CII said, many IT and pharma companies have been in China for over five years.
While IT remains the primary service sector providing huge potential for further development, the two countries could also come together in tourism and hotel industry, healthcare and technical education.
Shanghai,
June 26. (UNI)
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