India, China can complement each other to become global leaders: Diplomat

[Soumya_india]

India and China need a strategic alliance to woo business into each other's country and together can complement one another to become global leaders, a Chinese official said on Saturday.

Penng Gang, Economic and Commercial Counselor,Chinese Embassy in India, invited Indian entrepreneurs for doing business in China during a seminar organised byCII here and described China as the "world factory" and India as the "world office", a CII release issued here said.

"The infrastructural development in China along with Indian skilled-English speaking brain power can make the two countries as partners and achieve growth in foreign trade," Gang said.

He urged the governments of both sides to provide necessary preferential policies and create better investment environment for foreign investors, to attract more FDIs and create huge employment.

Stating that China is committed to stimulate the trade, Gang asserted to join hands towards the new trade target of USD 100 billion by the year 2015.

He also explained the need of strengthening the financial exchanges between the two countries.

"The Indian commercial banks have set up more than 10 branches in China and similarly,National Development bank of China (NDBC) and Industrial and Commercial Bank of China (ICBC) have also set up their businesses in India," he added.

India, China can complement each other to become global leaders: Diplomat - The Economic Times

 

[Chinese-Dragon]

India and China need a strategic alliance to woo business into each other's country and together can complement one another to become global leaders, a Chinese official said on Saturday.

Umm... we already have a large trade surplus with India.

And even after the stapled visas issue, we still have Monmohan Singh promising to increase bilateral trade to $100 billion, therby increasing India's deficit even further.

The status quo is currently serving us very well.

 

[praful]

Learning Mandarin to Woo Chinese

In 2010,more than 5.49 lakh Indians travelled to China,up from 4.48 lakh in 2009,and more than 60% were traders.Netherlands-based Indian businessman and the owner of Caressa spa in Mumbai,JC Kapoor,68,recently enrolled in a Mandarin course when he saw that huge quantities of low-cost furniture and lightings could be bought from China for his newly-planned salon business.India and China are aggressive trade partners and everyday we hear stories of traders who travel to China and procure cheap goods.The need to learn Mandarin is greater than ever, he says.Kapoor says it is widely believed that if you know a bit of Mandarin,you can impress the China man and get better deals.Mumbai-based computer peripherals supplier Rajesh Jadhav has a similar story.Jadhav,the owner of Jadhav Brothers and Company,enrolled in a Mandarin course when he realised there was a demand for low-cost computer peripherals among his clients.He visited the wholesale markets in Shunde and Guangzhou in China,where he was told large volumes of mobile and computer peripherals were sold at remarkably cheap prices.Chinese markets are huge often the size of Indian cities.They are also well-organised something you will never find in India.Any trader who goes there can buy large quantities of goods at cheap rates.And if you know a bit of Mandarin,it becomes all the more easy, says Jadhav,who is planning to visit the country during the popular Spring Trade Fair in October this year.Earlier,interpreters would help Indian traders negotiate with their Chinese counterparts.But quite often,interpreters would misquote the actual price and Indians ended up paying a lot more.You dont want to get cheated,especially when youre doing business in a foreign land, says Kapoor with a smile.Kapoors friend and Mumbai-based architect Satyajith Shanbag agrees,but says that Indian traders are usually not bothered about the quality of products.As far as I know,no Indian trader has ever bought an A-grade product from China.Indians are usually satisfied with B and C-grade commodities.So the next time you go to a plush hotel or a spa in Mumbai,know that your chair might be a C-grade one,brought all the way from a wholesale market in interior China, he says.I am not surprised that so many Indian traders are learning Mandarin, says Niu Qinbao,the consul general of Peoples Republic of China and a long-time Mumbai resident.Indian traders are aggressive and they know how important the Chinese markets are for them.Visit any wholesale market in Yuwi,Haizhu,Nansantiao or Shenzhen and you will see thousands of Indians. Qinbao says the Chinese know how difficult their language is.It has 5,000 characters and 50,000 combinations.If you can greet a Chinese trader by saying,Ni Hao,meaning hello,he will surely be impressed. Indian traders are happy to learn the entire language to crack business in China.

 

[praful]

Traders Scale the Great Wall of Language

Learn Mandarin to strike business deals in China and avoid being gypped

It was sheer serendipity that first took Parag Bogani to Guangzhou in south China,but business intent made him sign up for a Mandarin course on his return.Three years ago,the Kolkata-based manufacturer of flex banners went to China on an impulse,accompanying a friend,a furniture dealer.And though he couldnt make any sense of the Mandarin when he walked through the wholesale tarpaulin markets in Jiangsu and Guangzhou,he understood the business potential well enough.Bogani joined a Mandarin course at the School of Chinese Language in Kolkata as soon as he returned.Two years later,he is fluent in the language,and has joined a group of small Indian traders who regularly visit China to procure cheap furniture,textiles and electronic goods.There has been a sharp increase in small traders who have enrolled in Mandarin classes in the past two years,says Nitin Rao,founder of Career Crafters language institute in Mumbai.For them,Mandarin is the language of money and opportunity. Where Indian traders would earlier travel with interpreters,they are now learning the language.The second wave of learning Mandarin is here, says Reshmi Kumar,Mandarin tutor and owner of Cornerstone,an institute of foreign languages in Mumbai.While the first wave was initiated by Indian corporates who sent employees to China,small and medium-scale businessmen are now learning this supposedly difficult language.Trade between the two countries touched $61.7 billion in 2010,marking a 43% jump from the previous year.The number is expected to touch $100 billion by 2015.For small Indian businessmen eyeing that pie,learning Mandarin is the key.Of the 1,25,000 Indians who have visited China in the first three months of 2011,72% went for business,according to the consulate of Peoples Republic of China.

 

[kingofkings]

Umm... we already have a large trade surplus with India.

And even after the stapled visas issue, we still have Monmohan Singh promising to increase bilateral trade to $100 billion, therby increasing India's deficit even further.

The status quo is currently serving us very well.

Don't you think it should be a two way ????

 

[Chinese-Dragon]

Don't you think it should be a two way ????

Not really.

This way, we get a strategic alliance with Pakistan, AND a huge trade surplus from India.

In realpolitik, National interests always come first.

 

[Huan]

Indeed China comes first over India and has much more capability for a so called world leader. ^^

 

[Splurgenxs]

Not really.

This way, we get a strategic alliance with Pakistan, AND a huge trade surplus from India.

In realpolitik, National interests always come first.

^^ Assuming u kno what lies in ur national interests..
Since myopic views run rampant in china
claims of a non polar stable world is definitely Chinese hogwash then ain't it(just like every other statement)..


Nevertheless no worries every stretch of reason can be give only so much time...
Growing Trade Deficit: India keeping close watch on China, mulls steps - Economic Times

Don't you think it should be a two way ????

That depends on wisdom ,but i guess thats the reason they got rattled last year and came running to balance the deficit.
Chinese goods are already being phased out .. only product mostly in use are the Computer Electronics. Once the Semiconductor Manufacturing take hold ..expect a steep drop in trade.

 

[kawaraj]

India won't. this country's always at the US's service. Trust me.

 

[akinkhoo]

Don't you think it should be a two way ????

It is not China's fault that India has a domestic budget deficit that is limiting it's own ability to invest and grow it's economy that cause the trade deficit. of course China would like to buy more product from India to bring down inflationary pressure in China, but India actually have to produce something that is competitive...