Session with Mr. Zha Liyou, Consul General, Consulate General of the People’s Republic of China in Kolkata held @MCCI

NewsMania September 2, 2022

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Merchants’ Chamber of Commerce & Industry organised a Special Session on Managing India-China Trade today at the Chamber.

The special session was addressed by Mr. Zha Liyou, Consul General, Consulate General of People’s Republic of China in Kolkata.

Mr. Zhang Hongjie, Economic and Commercial Consul also joined the Session today.

Mr. Rishabh C. Kothari, President, MCCI in his Welcome Note mentioned that In March, 2022 India has indicated a positive signal to 66 investment project worth $1.79 billion from Chinese companies. India government has allowed Chinese firms to take access in the Indian power sector and even in the port sector.

Shri Kothari lauded the business tie up China and West Bengal in Aerotropolis Project at Durgapur Airport in West Bengal.

In the context of domestic industry, Shri Kothari enquired what sort of a support is the Chinese government willing to give the Indian entrepreneur including in the MSME sector.

Mr. Zha Liyou, Consul General, Consulate General of People’s Republic of China in Kolkata in his address mentioned that India-China trade volume in 2021 has accounted for US$125.6 billion which has witnessed 42.3% year on year growth. He further expressed his concern that investment of China in India has dropped by 68%.

While speaking on bilateral trade between India and China, Mr. Liyou mentioned that India imports heavy mechinaries, electronic equipments, household products, laptops, computer, etc. He further mentioned that Chinese products have good quality. China was able to do trade worth Euro 586 billion and Chinese goods have qualified for EU standards.

Mr. Zha Liyou lauded that India is now best phase of development. He suggested that India should fully open to FDI. He also informed that according to forecast, India will overtake USA by 2043 and it is only possible when India would improve trade relation with neighboring countries.

Mr. Liyou advised to strengthening the complementary relationship including supply chain and industry chain.

He also focused on expanding sister relationship with the provinces in India. He believed the Sister relationship is preexisting. India-China would jointly create Asia Century.

The Session concluded with hearty Vote of Thanks proposed by Mr. Namit Bajoria, Vice President, MCCI.