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Indian industries urged to grab opportunities in China

Indian industries looking for export opportunities should take a closer look at the vast and untapped Chinese market for products ranging from software to soymeal, an official study in Beijing has suggested.

"While the rest of the world has over the past 20 years exploited the opportunities presented by the opening Chinese market, we in India have been much slower in realising the opportunities that exists here and in grasping such chances," an Indian embassy study says.

The study, undertaken in the wake of allegations of Chinese dumping of goods in India, says China's likely accession to World Trade Organisation in the coming months will make Indian industry sit up and realise the potential of the Chinese market.

Among the most promising sectors are agriculture and pharmaceuticals. Other sectors include mineral ores, marine products, building materials, chemicals, computer software, hotel industry and professional services.

China's import of cotton as well as cotton yarn are likely to increase and in this sector India could increase exports and make an impact, the study says.

India exported $179-million worth of cotton and cotton yarn to China in 1997, but the figure fell to $150 million in 1998.

India has a 5 per cent share in China's import of this commodity. China's imports of raw cotton could reach $359 million by 2005.

Cotton yarn imports are also expected to rise proportionately, the study said.

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