Drawing an analogy of the creation of European Union (EU), integrating diverse interests of the European nations for mutually profitable proposition, Mr Shourie said, In Asia we neither think nor act in this manner.
Mahindra In Talks To Enter China SUV Mart
| Shanghai, June 26: Mahindra & Mahindra said on Thursday it was in talks to assemble and sell sport utility vehicles (SUVs) in China, in what would be the first foray by an Indian automaker into the fast-growing Chinese market. |
Indias largest maker of tractors and utility vehicles spent a week negotiating with a trio of Chinese firms to put together and distribute its Scorpio sport utility vehicle, the companys managing director Anand Mahindra said in Shanghai.
Mr Mahindra was accompanying Prime Minster AB Vajpayee on his trip to China, joining a corporate delegation that hoped to forge business ties and cash in on Chinas booming market as the two Asian neighbours improve trade relations.
A team from the Indian vehicle maker had spent the past week discussing possible deals, Mr Mahindra said, although he declined to elaborate on possible partners or other details.
They have been talking to about three automotive companies about the potential of collaboration here, and for assembling and distributing our sport utility vehicle, the Scorpio, he said. A year from now, hopefully we should be in action here, he added. Reuters
Relationships are like marriage, which need to be worked at all levels, structurally, politically and economically, he said while addressing a gathering of business leaders of India and China.
The meeting was organised by Federation of Indian Chambers of Commerce & Industry (Ficci) and Business Week.
Hinting that Asian countries (specially India and China) must realise that their strength lies in being together, he said, Once European nations realised that their future lay secured in being together, they believed in it and constantly worked at it while giving a great deal away in the process.
According to Mr Shourie, the relationship between the two countries has improved further during the visit of Prime Minister Atal Bihari Vajpayee.
Political leaders have taken practical stands, he said. He stressed on the need to look at practical approaches where both the countries could cooperate for mutual benefit.
He identified World Trade Organisation (WTO) as a subject of common interest of both the nations. There is a huge opportunity to cooperate in preparation towards WTO negotiations scheduled to be held in September at Cancun, he said adding that issues of implementation (of Doha Development Round) and special & differential measures were two areas of common concern.
Addressing over 55 Chinese business leaders, Mr Shourie said that China could gain a lot from the Indian IT sector. Citing the example of the Shinsei Bank in China, he recounted how an Indian IT company (Nucleus Software) had helped the bank to save $135 million through IT applications. The bank was facing costs issues where the annual operating costs towards IT set up and its application was very high.
The meeting was attended by CEOs of various companies including FedEX and Invest HK. It was also attended by Business Week CEO Sam Mon, CCPIT-Hebei sub council vice chairman Li Zhangao, Shandong provinces foreign affairs director Li Rong, COSCO Container Lines director Gu Qianbin, Shanghai WTO affairs consulting centre president Wang Xinkui and senior officials of various provinces of China.