MCCI organised a Special Session with H.E. Mr. Xu Feihong, Ambassador of the People’s Republic of China to India on ‘Doing Business with China’ today, 30 October 2024 at The Park. Mr. Xu Wei, Consul General, Consulate General of the People’s Republic of China in Kolkata was also present at the Session. Mr. Arun Kumar Garodia, Chairman, EEPC India also addressed the Session.
Mr. Maxim V. Kozlov, Consul General, Consulate General of the Russian Federation in Kolkata and Mr. Tashi Penjore, Consul General, Royal Bhutanese Consulate in Kolkata attended the Session.
While welcoming the guests, Mr. Amit Saraogi, President, MCCI said that India-China both have huge investment opportunities abounded in numerous areas like manufacturing and textile industry, science and technology, bio-technology, etc. India and China need to work together to identify new areas of cooperation for adding momentum.
Mr. Arun Kumar Garodia, Chairman, EEPC India emphasized on the need for more balanced, stable and sustainable trade relationship between India and China.
“This year, Chinese Embassy and Consulates in India have issued over 240 thousand visas, 80% of which were business visas which shows the vitality and economic trade exchanges between the two countries” – said H.E.Mr. Xu Feihong, Ambassador of China to India. China’s economy has grown 5.2% in 2023 and having world’s biggest market, there is enormous scope for India’s high-quality products in China. He hoped that India will lift restrictions on investment and government procurement so that both the countries can benefit from free trade.
He viewed that India can significantly participate in China’s upper stream and down stream supply chain. India’s comparative edge in IT, Bio-medicine and software and China’s rapid expansion in electronics manufacturing and emerging industries, both the countries have huge scope for mutual cooperation. India is in a major drive to improve infrastructure and this is an area where China has rich experience. He further mentioned that companies of both the countries, if connected will produce an effect of 1+1= 11.
He hoped that by removing visa restrictions and starting direct flight would have significant effect on the bilateral relation between the two Asian Giants. In 2024, the number of Chinese outbound tourists is expected to reach 130 million and he hoped that India would get a part of this traffic.
Mr. Munish Jhajharia, Vice President, MCCI in his vote of thanks said that by leveraging complementary strengths of the two countries, India and China can forge a more stable and prosperous trade relationship that mutually benefits both nations.
(This story has not been edited by News Mania staff and is published from a Media Release)
