India, China business meet scouts Chinese investment in India

Indian Consulate in Shanghai along with Municipal Government of Yangzhou and Confederation of Indian Industry (CII) organised 'India-China Business & Investment Seminar- Opportunities in IT, Engineering & Allied Sectors' to evoke interest among the Chinese companies to invest in India and to provide an overview of India’s FDI policy, basic tax and business laws, financing options.

Consul General Riva Ganguly Das led a delegation of Indian companies and banks from the Eastern China Region to Yangzhou, a press release issued by the Consulate said.
Chief Representatives, CEOs and senior executives of Aditya Birla Group, BHEL, ICICI Bank Ltd, Infosys, Jiangsu Sterlite Tongguang Fiber Co Ltd, Elgi Equipments, L&T, MphasiS, Mahindra Satyam, NIIT, PTC Global, SBI, TCS, Tata Steel, Thermax, Wipro Infrastructure Engineering and CII took part in the meeting.

Receiving the Indian delegation  Xie Zhengyi, Mayor of Yangzhou conveyed the strong interest of the Yangzhou Municipal People's Government in deepening cooperation in IT, Engineering & allied sectors with India, a press release from the Consulate said.

Wen Daocai, Vice-Mayor of Municipal Government of Yangzhou said that the joint initiative offered a unique opportunity to Yangzhou based companies to engage with Indian companies.

He gave an overview of the Overseas Investment Policy of Yangzhou.
He said the policy encourages suitable Chinese companies in 'Going Global' by way of favourable policy, speedy approval and financial assistance.

Das said with a combination of factors such as macro-economic stability, consistent growth, abundant skilled manpower, well-developed banking and judicial system, a vibrant capital market and its large scale investment absorption capacity, India offered attractive returns to prospective Chinese investors.

With about a trillion dollars of investments expected in the Indian infrastructure sector in the next five–six years, there are a number of business opportunities for Chinese companies to invest in India, in infrastructure projects, dedicated freight corridors, subway lines and SEZs which are being created through Public Private Partnerships, she said.

The Seminar provided Indian and Chinese companies with a platform to forge new business alliances as well as promote two-way investments, the release said.

Altogether 80 participants from more than 50 Yangzhou-based companies, government officials participated in the Seminar. One-on-one meetings between Indian and Yangzhou-based companies were arranged. The delegation also visited the Yangzhou IT Park.