The Federation of Indian Chambers of Commerce and Industry (Ficci) opines that the present recession is one of the most opportune periods to strengthen trading relations with China as the conventional developed markets are drying up.
?The time is ripe to take advantage of the window of opportunity offered by the growth trajectory in India and China at a time when the economies of the western world and other nations are shrinking,? said K K Modi, former president, Ficci and chairman, India-China Joint Business Council and Modi Enterprises.
Modi is leading a Ficci business delegation to Hong Kong, Macau and Zhuhai with an aim to hunt for trading opportunities, especially in the sectors of finance, tourism, entertainment, gems & jewellery and manufacturing.
Considering the increasing significance of India-China relationship, especially in the wake of current global uncertainties, there is an urgent need to develop greater financial and manufacturing synergies between the two emerging economic powers of the world, Modi said.
The delegation will also seek mechanisms to increase the collaboration among the two countries and explore synergies in trade and investment between India and China. Both powers miss great opportunities of catering to each others? markets because of language barriers and the political history of mistrust between the two nations, he added. He said that opening channels of communications would facilitate mutual understanding and increase benefits for the two nations.