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| India-China Trade 'Diversifying': Indian Industry Official |
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"India-China economic and trade cooperation is diversifying as more Indian companies enter China's manufacturing, service and finance sectors," the president of Confederation of Indian Industry, R Seshasayee, said yesterday at the ongoing "Made in India" show in Beijing. Seshasayee also said India will further develop its software industry and increase exports to overseas markets, including China. Chairman of China Council for the Promotion of International Trade (CCPIT), Wan Jifei, said the "Made in India" show, an annual event since 2003, has achieved "remarkable" results. This year's show is being attended by more than 50 Indian industrial and commercial enterprises, which are exhibiting products and services from nearly 20 sectors including agriculture, health and engineering. The show will help diversify the trade between the two countries and further deepen economic and trade ties, said Wan. Kapil Sibal, Indian minister of science and technology, said India will strengthen cooperation with China in scientific research and development to realize a faster growth in bilateral economic development. India and China, the world's two most populous countries, have witnessed rapid economic growth. The bilateral trade volume grew from US$265 million in 1991 to US$18.7 billion in 2005, and the figure is expected to exceed US$20 billion this year. The show was jointly organized by the Confederation of Indian Industry and the Indian Embassy to China. (Xinhua News Agency September 9, 2006) |
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