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FICCI, CII to boost Sino-Indian trade ties

Expressing keenness to forge new synergies between trade circles in India and China, top Indian industry bodies on Wednesday said that they would do all they can to build a 'new era' in bilateral trade and economic relations.

The Federation of Indian Chambers of Commerce and Industry and the Confederation of Indian Industry have expressed a keenness to promote commercial and economic ties with China.

"FICCI is eminently placed to play a catalytic role to impart vigour and dynamism to India-China bilateral and commercial ties which is witnessing high growth in the wake of high-level political contacts," FICCI president R S Lodha said addressing the first 'India-China Economics and Trade Forum' in Beijing.

"We are and we want to be seen as natural allies and would be happy to explore partnerships and alliances that augment mutual interest of our two business communities and great nations," he said.

Speaking on the occasion, Indian Ambassador to China, Shivshankar Menon, described the seminar as "a significant event" in the further development of Sino-India relations.

"The fact that the seminar is being held today, and is being attended by persons of such eminence, shows not only the potential of India-China economic relations, but also the fact that this potential is now appreciated by an ever larger circle of friends," Menon said.

Expressing satisfaction over the rapid growth in trade relations between the two countries, Menon pointed out that the two neighbouring nations were very far from realising the full potential of what they could do.

"With our talented peoples, large markets and the present stage of development, our two countries can certainly do much more together," he said.

Lodha, currently leading a high-level FICCI business delegation to China, said that after the visit of Chinese Premier Zhu Rongji to India in January this year, there is keen interest in India to forge new synergies with China in a vast spectrum including trade, investment, technology transfers, joint research and development.

Recalling FICCI's strong relationship with its Chinese counterpart -- China Council for Promotion of International Trade, Lodha said the leading Indian apex chamber was striving towards building "a new era of Sino-Indian partnership."

"As the two largest emerging markets of the world and endowed with diverse resources, human capital and high savings rate, our two countries could be natural partners of growth in this century," he said.

To tap this huge potential, FICCI and CCPIT have already set up task forces in six areas including on issues like the World Trade Organisation, pharmaceuticals, chemicals, computer hardware and education, frontiers of electronics and telecom and wireless, he said.

Secretary-General of the FICCI, Amit Mitra, made a presentation of the India's economy, FICCI vice-president, A C Muthiah, spoke about the hydrocarbon and petrochemical sector in India and Director of S Kumars, Mukul Kasliwal, did a presentation on India's Information Technology sector.

Deputy editor-in-chief of Guangming Daily, He Dong Ping, and Gorden Yan, vice-president of ZTE Corporation, a leading Chinese telecom company, also addressed the seminar and stressed the need for enhanced Sino-Indian business ties.

The seminar was organised jointly by FICCI, CCPIT, the Indian Embassy and the prestigious Guangming Daily.

CII chief Soota in China for CCPIT meet

Ashok Soota, president of the Confederation of Indian Industry, is in China from till May 21 to participate in the 50th anniversary of China Council for the Promotion of International Trade.

This is the first overseas business visit that Soota has undertaken after taking over as the president of CII in April, 2002.

Soota would participate in the interactive sessions such as emerging trends in World Trade and Development, etc. Important government and business delegates from all corners of the world are participating in the week-long celebrations.

The CII president will also meet high level officials both from the government as well as the industry.

The week-long visit, from May 15 to May 21, is likely to strengthen CII's relations with China. CII has plans to open its office in China in the near future to promote trade and business in the region.

Additional inputs: PTI

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