India Inc delivers stern message to Chinese industry

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  1. SHASH2K2

    SHASH2K2 New Member

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    India Inc on Thursday delivered a stern message to China, which is: the Chinese industry is putting at risk its own growth prospects in India by treating Indian companies as junior and unequal partners.

    "The non-tariff barriers need to reviewed and eliminated," Tata Steel managing director B Muthuraman told the India Business Forum, which was attended by over 300 Chinese business executives in Shanghai. Indian companies feel "they have not been provided access to the market" in China, he said.

    Indian ambassador in China S.Jaishankar was even more forthright when he told Chinese companies not to proceed with a "perception of imbalance" and a feeling that Indian firms were less competitive than those in other countries.

    "It is important for Chinese companies that the perception of imbalance is addressed so that their own long-term prospects in India are not prejudiced," Jaishankar said.

    The message was formulated in a lengthy meeting attended by 83 business executives representing CII, Ficci and Nasscom on Wednesday before it was delivered today. India offered a vast market for Chinese infrastructure and other companies, who should learn to treat Indian companies as equals.

    It is a mindset problem and Indian companies should work to educate their Chinese partners, Jaishankar said. "Today, the challenge is how to open the minds of Chinese companies and get them to realize the value of working with India," Jaishankar said.

    Muthuraman, who is also the CII vice president, said China should make efforts to ensure that India’s trade basket is "fairly representative of its potential and competitiveness." He also sought improved access to Chinese market to Indian service sector businesses covering information technology, health care, media and entertainment and education.

    "Indian companies have not yet been able to achieve significant growth in China as we feel they have not been provided access to the market," he said. Indian companies would like to invest in China’s pharmaceuticals, machineries and engineering products sectors in order "to tap the huge Chinese domestic market as also for export to other countries," Muthuraman said.

    "It is tough to project an equitable relationship when a product as competitive as pharmaceuticals does not even figure in the list of our significant exports to China. Even more difficult to explain is the very limited success of Indian IT in the domestic Chinese market," the ambassador said.

    Sha Hailin, chairman of Shanghai Municipal Commission of Commerce said the economic and trade co-operation between India and China has increased rapidly. Shanghai has 89 Indian projects and there are several Shanghai-based Chinese companies executing projects in India.

    Read more: India Inc delivers stern message to Chinese industry - China - World - The Times of India http://timesofindia.indiatimes.com/...ndustry/articleshow/6338125.cms#ixzz0x3loY5Kc
     
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    India Inc seeks greater access to China’s domestic market


    Shanghai: Seeking more market access to reduce the trade deficit, India Inc has demanded that non-tariff barriers which impeded Indian companies to establish themselves in China should be removed.

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    India's export basket is not representative (to China) of its competence in a number of areas, for example engineering products, pharmaceuticals and machineries, the CII Vice-President, B. Muthuraman, who is also the Managing Director of Tata Steel, s aid while addressing the India Business Forum here on Thursday.

    “There is, therefore, need to make India’s basket fairly representative of its potential and competitiveness. Indian industry would like to seek access to China’s domestic market products. The non-tariff barriers need to reviewed and eliminated. It would also help in reducing India’s deficit in trade with China,” he said.

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    A total of 360 Chinese businesspersons, industrialists and officials from all over China, attended the meeting, which was the culmination of about 16 such meetings held all over China for the past few months to push brand India into China.

    Muthuraman said that Indian companies would like to invest in China in sectors like pharmaceuticals, machineries and engineering products to tap the huge Chinese domestic market and for export to other countries.

    “Indian companies have not yet been able to achieve significant growth in China as we feel they have not been provided access to the market. We therefore seek improved access to Chinese domestic market in services sector such as IT, ITES, health care, media and entertainment and education,” he said.

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    The Indian Ambassador to China, S. Jaishankar, who has been conducting various business get-together in several parts of China to bring about India product, said “our economic relationship has actually been the game changer in bilateral ties, particularly in the last decade.’’
     
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