'Time for India, China tie-up for growth'

Prof Pankaj Chandra, Director, Indian Institute of Management, Bangalore (IIMB), on Thursday said industrial development in India is strongly dependent on the manufacturing sector and it was high time the country scaled up its manufacturing sector to global opportunities.

Speaking at a meet attended by members from the Indian and Chinese academia, the IIMB director said India and China have a great chance and scope to collaborate in manufacturing-based trade and practices.

Other areas

“Apart from manufacturing, both India and China should explore opportunities in agri-business, embedded systems, science parks and green technology,” he said.

Professor Chandra, however cautioned that, unlike in the past, such a collaboration between the two countries should move away from investments in infrastructure projects to production-based openings situated in India.

The two-day seminar was jointly organised by the Indian Council of Social Science Research (ICSSR), Institute for Social and Economic Change (ISEC), Bangalore and the Sichuan Academy of Social Sciences (SASS), China.

Professor Guo Xiaoming, vice-president, SASS, said the two economic powers in the world, India and China, have many similarities in the path traversed so far. “It’s high time both the countries join hands at a time when there is more need to grow,” he added.