Chinese companies want to set up steel and tyre plants with their Indian counterparts in West Bengal, according to Mao Siwei, consul general of China in Kolkata.
Trade between India and China is expected to touch $60 billion (Rs 2.5 lakh crore) by 2010, from around $40 billion (Rs 1.7 lakh crore) at present.
Sino-India trade is growing at about 37.34%. Iron ore makes up the bulk of Indian exports to China, while China exports mainly coking coal, electronic goods and specialised machinery to India.
He said financial institutes are better managed in India than in China.
“India has a population that is growing younger and will continue to supply young people to the labour force for a long time, but China has an aging population, which will result in labour supply problems in the future,” the consul general said.