CII plans to boost trade across China

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Betting high on China, Confederation of Indian Industry will ramp up its business plan for the Communist giant manifold in the next one year, including encouraging a 100 more Indian companies to do business with China, and visualises a Sino-Indian bilateral trade volume of USD 100 billion by 2015.

CII is planning business events across China, a ‘Made-in-India’ show in the booming Guanzhou city, a CEOs meet and visits by 1,000 young Indian businessmen - all aimed at increasing India's market share in China and spurring Indian entrepreneurs to invest in the world's fourth largest economy.

On its part, the CII would expand its Shanghai office and open one more in Beijing, CII Chief Mentor Tarun Das said in Beijing.

Buying missions from China to India are also planned, said Das, who was here with a broad agenda of trade and investment in China and to attend a meeting on space initiatives.

"India's exports to China have a narrow base. We need to understand how to do business with China, how to sell to China and what to sell to China, specially finished products, not just iron ore. Otherwise, the trade imbalance will continue to grow", he said.

The planned activities would also help bridge the information gap and build confidence of Chinese in Indian products.

"We have to reach out to the Chinese private sector and get them to buy from India", he said, adding, CII wants to encourage 100 Indian firms to do business with China in the next one year.

Das said the volume of bilateral trade, now around USD 40 billion, could go up to USD 50 to 55 billion in the next two years and it could be doubled by 2015.

"In seven to eight years, we could go up to USD 100 billion". "The trade is going to shift from India-Europe, India-USA to India-China," he said. "We will continue to trade with the West. But the rate of growth of India's trade with the West will be smaller than the rate of growth with China".

Das said business events would be held to project Indian products and build the confidence of Chinese in them so that they would buy more from India. The events would also encourage Indian firms to invest in China.

In September 2008, a business meeting of CEOs and ‘senior people’ is planned to be held at Tianjin in China.