1. China wants to merge ‘Make in India’ with ‘Made in China’ to step up investments

China wants to merge ‘Make in India’ with ‘Made in China’ to step up investments

China said it is making "every effort" to address India's concerns on $47 billion trade deficit.

By: | Beijing | Updated: July 2, 2015 4:04 PM
Narendra Modi, Narendra Modi news, make in india, make in india campaign, make in india logo, make in india policy, bharatiya janata party, BJP news, Indian economy, economy, narendra modi make in india, india news, business news

China wants to combine Prime Minister Narendra Modi’s ‘Make in India’ initiative with its ‘Made in China’ to step up investments.

China said it is making “every effort” to address India’s concerns on $47 billion trade deficit as it called for combining Prime Minister Narendra Modi’s ‘Make in India’ initiative with its ‘Made in China’ to step up investments.

“We are making every effort to fundamentally solve the issue. We need to find a new channel, new methodology to break the bottle neck,” said Huang Xilian, Deputy Director General of the Asian Affairs department of the Foreign Ministry.

China is trying to address the issue by promoting mutual investments to balance the trade. “We have agreed two industrial parks and encouraging more Chinese investments in India to promote exports to China,” he said.

“We are ready to buy. This is next five years we are experted to import commodities from $10 trillion. We hope we could import as much as possible from India,” he said.

“We should try to combine ‘Make in India’ and ‘Made in China’ strategy together. The key word in India-China relationship is development, which is a major factor of our cooperation,” he said.

India’s trade deficit with China averaged around $47 billion in last year’s trade of over $70 billion.

Huang said China has sent delegation to India to discuss measures to increase imports.

China is importing films from India, he said, referring to recent success of PK which grossed over $16 million.

China is also stepping up imports of Indian pharmaceuticals, Huang said.

For Updates Check Economy News; follow us on Facebook and Twitter

Calculate your income tax post budget 2018 through this Income Tax Calculator, get latest news on Budget 2018 and Auto Expo 2018. Like us on Facebook and follow us on Twitter.

  1. Hemen Parekh
    Jul 23, 2015 at 9:38 am
    Close in India ? Writing in Hindustan Times ( 23 July 2015 ) , Timsy Jaipuria provides following information about Scooters India Ltd (SIL) : * SIL employs 1000 persons * Incurred losses from 2002 to 2012 * Given Rs 200 crore revival package in 2013 * Expected to make loss in 2015 * Government could not find a buyer for SIL in2011 * If SIL fails to revive , Government will try to divest again All of these reminded me of the following letter that I wrote to 7,500 employees of L&T Powai Works ( individual copies in English and Marathi ), some 30 years back : ------------------------------------------------------------------------ 28 Feb 1986 Dear Friends : FLOGGING A DYING HORSE The correct idiom is "flogging a dead horse" but there is every possibility that the horse ( Scooters India ) is dead by now. This is because the enclosed article ( Dying Horse ) about SIL is almost 18 months old. And as of Dec. 31, 1985, we have such 93,282 dying (or dead?) horses in our country. These are known as " Sick Units " What I do not know is whether the above mentioned figure includes public-sector ( Govt. owned ) sick-units or not. Most of these are sick - in fact VERY SICK. If you wish to know how "sick", here are some "temperature-readings" : ----------------------------------------------------------------------- Government Unit ( PSU ).......... Loss in last 3 years ( Rs Crores ) ------------------------------------------------------------------------ 1. Engineering Projects India Ltd. (EPI)...............90 2. Hindustan Steelworks Const. Ltd. (HSCL)..........67 3. Cycle Corporation of India Ltd. (CCIL)............ 8.8 4. Scooters India Ltd. (SIL).............................. 50 5. Tanneries & Footwear Corp. of India Ltd.(TAFCO)..5 -------------------------------------------------------------------- I understand that the Govt. is planning to wind-up (close-down) the first 3 units and merge the remaining 2 units with some successful public or private sector company. From the "Dying Horse" article, we find that neither Bajaj nor HMT wants to even touch Scooters India ! And no wonder A similar company in America would perhaps employ 500 persons whereas Scooters India has emplo 3500 persons . Reminds me of Bombay Munility ! If BMC can sack (terminate/retrench) half of its employees, productivity would go up FOUR TIMES ! If you do not believe me, next time stop and count the number of persons pretending to dig a for a faulty telephone cable ! And talking surplus labour (?) HSCL has 12000 ! ( See following article ) How long before some of us muster enough courage to ask "Am I my brother's keeper?" H C Parekh General Manager ( Powai ) ------------------------------------------------------------------------ It seems , since I wrote the above-listed letter , things have not changed ! May be the " Industrial Sickness " has spread May be we need to launch another initiative called , " Close in India " ! And permitting 100 % FDI in sick units could be another " Out of Box " solution worth considering ! Nothing to lose but something to gain And , the beauty is , no political party will oppose such " Privatization " ! ---------------------------------------------------------------------------------- hemen parekh 23 July 2015 B2BmessageBlaster

    Go to Top