Narendra Modi's Make in India campaign makes big splash in China

Written by PTI | Beijing | Updated: Sep 26 2014, 01:40am hrs
Prime Minister Narendra Modi's 'Make in India' campaign made a big splash in China as large number of investors flocked to the special investment promotion events organised by Indian missions highlighting the country's fast-changing investment liberalisation process.

Over 250 investors, officials as well as journalists attended the event in Beijing in which Modi's speech made in New Delhi was screened with elaborate presentations from Indian Ambassador Ashok Kantha and Trade Councillor Namgya Khampa.

A special business event and roundtable discussion on 'Investing in India's Manufacturing Sector' was held to seek China's investments in the backdrop of USD 20 billion commitment made during the just concluded visit of President Xi Jinping. China will investment in two industrial parks besides railway modernisation.

"The event is very constructive and fruitful. Especially Modis remarks gave us clear guideline and gave us encouraging signal that Indian market is increasingly open," Gao Ya, External Communication Manager of Chinese firm TBEA which had invested in Gujarat.

Chinese investors will play more important role in India in the coming ten years and there will be more Chinese investments in India, he told PTI after the event.

"There is no doubt Chinese investments in India will grow. China's manufacturers at all levels are looking for opportunities abroad. India is number one priority, the best priority as it is second largest market after China," he said.

He said Modi's speech brought about sense of clarification about India's commitment to promote foreign investment.

"Before there is a lack of comprehensive knowledge about India and after Modi's speech and based on our reading India was more open than China in 1980s," he said.

USD 20 billion announced by President Xi is only the beginning, more will follow, he said.

India has many advantage in terms of labour, young people and open culture, he said adding that foreign investors expects more liberalised customs, visa and licence regime.

Jack Huan, an official of the China National Heavy Duty Truck Group, said it may be an opportune time for Chinese firms to enter Indian markets it is good to hear Indian Prime Minister inviting Chinese and other investors from all over the world.

"The Indian government announced large improvements for investments. The meeting is a chance for Chinese companies to learn a bout Indian markets," he said.

Senior officials from the National Development and Reform Commission, the Ministry of Commerce of China, China Development Bank, and the National Railway Administration of China attended the event together with leading chambers and business houses, including several that figure in the Fortune 500 List of companies, such as State Grid, Bank of China, Dongfang Electric Corporation, AVIC International, Huawei, TBEA and Fosun.

Such events were held by Indian Consulates in Guangzhou, Shanghai and Hong Kong.

In Guangzhou, the seminar was attended by 210 representatives of 152 leading Chinese enterprises.

The Consulate organised this event with the support of the Guangdong and Guangzhou sub-councils, Consul General K Nagaraj Naidu said.

Presentations were made on the investment opportunities that are available in India. In order to ensure that the participants gain maximum out of the seminar, the Consulate organized the event in three separate sessions, he said.

In the coming months, the Embassy will organise similar 'Make in India' events in other cities of China to familiarise potential investors with the opportunities and the priorities of the government, Kantha said.