Indian companies to set up manufacturing hub in China

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Posted: Saturday, May 17, 2008 at 2306 hrs IST
Updated: Saturday, May 17, 2008 at 2306 hrs IST

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Pune, May 16: Jiaxing, a major industrial centre located on the eastern coast of China, is inviting Indian companies to set up a manufacturing base in the city. “ Around six Indian companies including Thermax from Pune have set up base in Jiaxing. We are considering setting up an Indian industrial park to enable Indian investment into Jiaxing,” Shen Wenping, vice director, Jiaxing Municipal Bureau of Foreign Trade and Economic Cooperation said.

Wenping who was part of a high level delegation led by Weng Kexiong, vice chairman, Jiaxing Municipal Committee of CPPCC that visited Pune, said they were keen on inviting investment either through a JV or investments and were willing to give priority to Indian companies. Thermax established Thermax ( Zheuijiang) Cooling and Heating Engineering Co Ltd for manufacturing absorption coolers. Other Indian companies include Virgo, Sundram Fastners, and the TVS group.

“Jiaxing has a state level export processing zone, 10 provincial–level economic development zones and 60 industrial parks. Jiaxing would be looking for investments in auto components, textiles, leather, chemicals, optical-electro-mechanical products, timber processing, furniture and IT industries,” he said. Jiaxing has more than 5,000 foreign-funded enterprises with contractual foreign capital of $ 17.39 billion and actual foreign capital of $ 10 million. The delegation visited Delhi, Agra, Mumbai and Pune.

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Indian companies to set up manufacturing hub in China

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