"The innovation of India and the capacities and capabilities of China can overtake world trade," visiting Union Minister for Science & Technology and Earth Sciences, Kapil Sibal said in his keynote address at the inauguration of the fourth 'Made in India' and India-tech show organised by the Confederation of Indian Industry (CII) in partnership with the Indian embassy in Beijing.

"When I think of brand China, I think the C stands for capacity and capability. Brand China is like a tsunami that floods the world markets. China's capacities are unmatched," Sibal said.

"When I think of India, I stands for innovation. Can you imagine what will happen if the I in India and the C in China were to get together? The innovation of India and the capacities and capabilities of China can overtake world trade. And what better place to start than in Beijing," he said a day after signing a MOU with China to enhance bilateral cooperation in the science and technology sector.

Sibal pointed out that in the 'year of India-China friendship', it is significant and important that India technology show should take place in Beijing in order to partner in future with Chinese entrepreneurs, Chinese scientists and technologists.

Sibal noted that Indo-China trade has already reached USD18 billion.

"China is destined to be India's largest trading partner," the minister said.

He said China has a population of 1.3 billion and India has a population of almost 1.1 billion. "If you add the association of Southeast Asian nations (Asean), the population of this region will touch 3 billion which means that we constitute half of the world's population."

"So we have the market and we have the manpower. What we need is the technology. So let us start Indo-China technology partnership. Let the strategic partnership for friendship become a strategic partnership for science and technology," he said.

Speaking on the occasion, Indian ambassador to China, Nalin Surie noted that India and China are large growing markets for each other. "Our effort is to promote the development of synergies that are to our mutual benefit,"

he said.

"It is my hope that this exhibition will take this process a step further and enable the further development of cooperation between businesses and industry on both sides," Surie said.

The CII President, R Shshasayee said that the apex Indian trade body would continue to play a leading role in promoting and facilitating Indo-China bilateral trade and economic exchanges.

He noted that India and China are the two of the world's fastest developing economies, driving the growth of the global economy. India-China trade is rapidly changing the trading dynamics of the Asian region.

The increasing presence of Indian companies for manufacturing, services and financial sectors in China over the years is a testimony for our interests in a global footprint through joint ventures, acquisitions and production units, Shshasayee said.

He said he firmly believes that there is great synergy between India and China, particularly in the hi-tech areas.

He said the fourth MII show presents a cross-section of corporate India, projecting its capabilities in various sectors. India tech pavilion at the show would provide a special opportunity for interaction among the people from business and industry.

The participants at the MII show include various organisations under the Ministry of Science & Technology and Earth Sciences, BEML, EXIM bank, SBI, PNB, Haldia Petrochemicals Ltd, IBEF, Madhya Pradesh Laghu Udyog Nigam Ltd, Ministry of Small Scale Industries, NIIT, NTPC Ltd, Suzlon Energy Ltd and Taj Hotels Resorts.