‘Invest in China’ to boost ‘Make in India’: Chinese Ambassador

The Chinese Ambassador to India, Xu Feihong, called for closer commercial ties and business cooperation between the only two countries (India and china) with more than a billion population each. India and China, two major developing countries and emerging economies, need to be and will be closely linked for their development, he said.

Dwelling on business cooperation between the two countries, he suggested that Indian companies can enhance “Make in India” by “investing in China”.

His comments come in the back drop of a recent meeting between Chinese President Xi Jingping and Prime Minister Narendra Modi on the sidelines of the Brics Summit.

Addressing a special session on “Doing Business with China”, organised by the Merchants’ Chamber of Commerce & Industry (MCCI), Kolkata, Feihong highlighted China’s enormous market and said that India’s “high-quality” products would have broad business opportunities in their country. The two countries China and India are each other’s development opportunity – rather than threat, and cooperation partner – rather than competitor.

In FY24, some products that the Indian industry promoted-such as pepper, iron ore, and cotton yarn achieved an increase of more than 17 per cent, 160 per cent, and 240 per cent in exports to China, respectively, he noted.

China welcomes more Indian companies to make full use of platforms such as the China International Import Expo to help more Indian high-quality products to be exported to China and share China’s development dividends, he said.

Feihong also said, facts show that China-India commercial exchanges are inseparable.

Imposing tariffs and restrictions on Chinese products is not conducive to the development of downstream industries and the interests of consumers in India,  “he added.

Highlighting the complementary structures, he said, India has a competitive edge in IT, software, and biomedicine while China is seeing rapid expansion in electronic manufacturing and emerging industries.

“India is in a major drive to improve infrastructure, an area where China has rich experience. Companies of both countries, if connected, will produce an effect of 1+1=11,” he said.

The business community hopes that India will lift its restrictions on investment and government procurement against neighbouring countries, he added.

The Chinese side, he said, has always encouraged bilateral commercial cooperation and “we hope both sides can work together to lay down more beneficial policies and implement less restrictive measures to lift bilateral economic and trade cooperation between China and India to a new height”.

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