India Inc shakes hands with the dragon as US,EU turn cold

“As far as manufacturing is concerned,the focus will be on getting intermediates from China and assembling/producing final products in India,” KK Modi,chairman,India China Joint Business Council and Modi Enterprises,said. India has an advantage as far as meeting product standards is concerned.

As far as chemicals are concerned,China is very good at producing bulk drugs and raw material. This could serve as a source of raw material for India’s industry.

China also has problems with certifications in the west on account of language barriers which can be done away with if Indian English speaking scientists and professionals can aid the chemical industry in China,the Federation of Indian Chambers of Commerce and Industry says.

“There are a lot of synergies between the two sides as both the countries have a huge appetite for ‘value for money’ products given the consumption needs of their huge middle class population. Moreover,if the two don’t partner right now the rest of the world will continue pricing our products at lower prices and both will be losers,” Modi said.

In the case of entertainment and tourism a lot of Chinese tourists travel across Asia but not even 5,000-10,000 hit India’s shores. There is immense scope for partnership here. There also technologies that the delegation wishes to share with Chinese film producers as the other side also has a huge local film industry.