India invites Chinese companies to invest in manufacturing zones

Discussion in 'China' started by huaxia rox, Aug 28, 2012.

  1. huaxia rox

    huaxia rox Senior Member Senior Member

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    India invites Chinese companies to invest in manufacturing zones - Channel NewsAsia


    NEW DELHI: India on Monday invited China to invest in its new flagship manufacturing zones as part of a push to broaden commercial links and cut a ballooning trade deficit with its Asian neighbour.

    India's trade deficit with China, a longstanding economic irritant between the emerging market giants, soared 42 percent to nearly $40 billion in the last fiscal year, while total bilateral trade climbed 27 percent to $75 billion.

    "We've invited China to participate in and support the establishment of one or more of the National Investment and Manufacturing Zones," trade minister Anand Sharma said in New Delhi after talks with his Chinese counterpart Chen Deming.

    "That is where the opportunities beckon," Sharma said in a speech to Indian and Chinese business leaders, adding the response from the Chinese to the investment proposal had been "positive and encouraging".

    The zones are being set up under India's National Manufacturing Policy which aims to boost manufacturing as a percentage of gross domestic product to 25 percent from 16 percent in the next decade.

    The policy is part of India's struggle to provide jobs to its growing army of young people.

    Chen, in turn, said Beijing, which exports mainly capital goods such as heavy engineering equipment to India, recognised its trade relationship with India was lopsided.

    "We want to buy more goods from India to grow our trade relationship in a more balanced manner," he said.

    "China and India are both fortunate to have sizeable domestic markets which give us the the opportunity to offset the risks of the weak global economy," he added.

    Both nations' economies have slowed due to the global downturn and in India's case to high interest rates, corruption scandals and government policy paralysis that has dampened business activity.

    Deming said China's economy was expected "to grow 7.5 percent or hopefully eight percent this year," down from growth of 9.2 percent last year.

    India's once-booming economy grew by just 5.3 percent between January and March, its slowest annual quarterly expansion in nearly a decade.

    Diplomatic ties between China and India are prickly due to a festering border dispute and the presence of the exiled Tibetan spiritual leader the Dalai Lama in India.

    But trade has surged with the two countries targeting a goal of $100 billion in bilateral trade by 2015, even though experts say the trade imbalance is unlikely to improve significantly anytime soon.

    The two ministers insisted India and China should see each other as commercial partners and agreed to set up a joint working group to look at how to boost trade and investment

    "Let us trust each other," the Indian trade minister said, calling on his Chinese counterpart to take back a "positive message of India's commitment to deepen and diversify its partnership with your great country."

    "Both countries will grow at a faster pace through this partnership."
     
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  3. Jim Street

    Jim Street Regular Member

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    I think Chinese will think twice as our policies are not that good for FDI, which is good at some times and bad at other.

    LN Mittal and many industry people have pointed out that India is not worth investing in certain sectors and wants China like model.

    As far as manufacturing sector is concerned, India has to make sure that stigma attached to Chinese products or Made BY China doesn't affect our domestic industries. Quality assurance should be based on International standards.

    But at the same time, we do require to reduce trade deficit and attract FDI. An optimal way will be the key.

    I have doubt regarding this optimality coz of current govt.
     
  4. Rahul92

    Rahul92 Senior Member Senior Member

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    Well i may sound offensive but its the truth it is the only country in the world which sends its workers right from manager to gatekeeper from its own country
    and how the will it help us
    It doesn't create any jobs
    It will make more competition and hurt the economy as they are gonna import raw material from their country only
     
  5. trackwhack

    trackwhack Tihar Jail Banned

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    I would be very worried about the standards that Chinese manufacturers bring. This should not result in 'Made in India' getting the same reputation as 'Made in China'
     
  6. cinoti

    cinoti Tihar Jail Banned

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    You sound like 'Made in India' is a trustworthy slogan....
     
  7. cinoti

    cinoti Tihar Jail Banned

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    Plus, the domestic market of India is nothing but weak, india's so called middle class just don't consume much. Resorting to trade protectionism is not an option for
    Indian government. My two cents are, that India should focus more on investing into infrastructure rather than manufacture. ONLY after heavy industry is in place, can boast
    a country that it is on the taxi way to take off.
     
  8. trackwhack

    trackwhack Tihar Jail Banned

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    Made in India does not have the stigma attached to quality that Made in China has. And it has taken decades for Indian industry to deliver those standards.

    Did you drop out of high school? Our Domestic market dwarfs our export market. We consume in excess of 80% of what we produce. We have a deficit, not a surplus.

    India's middle class dont consume much - Again, did you drop out of high school? Our savings rate is about 30%. But thats on par when compared to other developing economies.

    And your two cents are nothing more than - OBVIOUS ...
     
  9. Skull and Bones

    Skull and Bones Regular Member

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    Lenovo just picked out 50.7% stake in HCL infosystems.
     
  10. Daredevil

    Daredevil On Vacation! Administrator

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    Its not confirmed. They only expressed interest.
     
  11. Skull and Bones

    Skull and Bones Regular Member

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    Maybe, saw ticker on Zee Business couple of minutes ago.
     
  12. cinoti

    cinoti Tihar Jail Banned

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    This time you are quite right, I quitted "middle school"(not high) and migrated to somewhere I can get a decent education. By saying "our cosumption is low", I did NOT mean we are export driven, I meant we are far behind sufficiency in productivity. Because I know, in order to support growth in industry, you have to build your infrastructure first; By "Protectionism is not an option", I meant it is a MUST.

    Talk is cheap, in a country where people only can have two meals daily, I don't see any reason why it should be so proud and mocking China, who floods the world with their "tinted" every thing.
     
  13. trackwhack

    trackwhack Tihar Jail Banned

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    Why are you saying we?. You are not we. You are Chinese. So stop pretending to be Indian. And you can badmouth all you want, Indian products have way more credibility than Chinese. We don't poison stuff with lead. Neither do we mix asbestos in products. There is no melamine in our milk.
    And since you asked what village I stay in - its called New York. The shithole of this planet. And I am not proud of it one bit.

    Mods - Not sure why this guy has an Indian flag???
     
    Last edited: Aug 28, 2012
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  14. Bangalorean

    Bangalorean Stars and Ambassadors Stars and Ambassadors

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    It was pissing me off too. He has the right flag now.

    Let him say what he wants, without concealing or faking his identity.
     
  15. cinoti

    cinoti Tihar Jail Banned

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    Mods changed my flag due to my wrongfully accused pro-China speech. They did it for me.
    I know in india, authority always do things for others, well it hold true as well as here.
     
  16. Bangalorean

    Bangalorean Stars and Ambassadors Stars and Ambassadors

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    Even your English is like a Chinese. You make the typical grammatical errors that Chinese make. Indians make different kinds of mistakes. Just stop the charade - participate in the discussions here with your right flag, and move on.
     
  17. trackwhack

    trackwhack Tihar Jail Banned

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    No numpty, mods changed your flag because your IP address correctly pointed out that you were sitting in one of the 50 cent chambers.
     
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  18. ani82v

    ani82v Senior Member Senior Member

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    :thumb::rofl::rofl::taunt1::taunt1::laugh::taunt::taunt:
     
    Last edited: Aug 28, 2012
  19. Bangalorean

    Bangalorean Stars and Ambassadors Stars and Ambassadors

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    ^^ What an utterly stupid fellow. I don't understand how these people think they will get away undetected. One can smell their bullshitting from a mile away.
     
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  20. ice berg

    ice berg Senior Member Senior Member

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    Really. Why dont you type Made in India in Google and see what you find?:lol:
     
  21. no smoking

    no smoking Senior Member Senior Member

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    Only if india is producing something based on international standards!
    But the fact is very few if not none!
    And the situation of huge trade deficit would tell you how indian customers are evaluating Chinese products and indian products.
    It is time to pull your head out of sand!
     

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