China and In­dia Should Syn­er­gize Devel­op­ment Strate­gies and Share Gov­er­nance Ex­pe­ri­ences

FICCI Business Digest - - Contents -

China and In­dia are neigh­bours that can­not be moved away. We are the most pop­u­lous and largest de­vel­op­ing coun­tries. We have shared his­toric glory of friendly in­ter­ac­tions. We also have pend­ing bound­ary is­sues. Our re­la­tions are so mul­ti­fac­eted and com­pli­cated, call­ing for spe­cial care and at­ten­tion,' said Chi­nese Am­bas­sador Luo Zhao­hui in a sem­i­nar jointly or­ga­nized by the Chi­nese em­bassy in In­dia with the Delhi-based In­sti­tute of Chi­nese Stud­ies and FICCI on 18 June 2018 in New Delhi.

He added, 'From the per­spec­tive of do­mes­tic devel­op­ment, both coun­tries are at the crit­i­cal stage of eco­nomic devel­op­ment, deep­en­ing re­form, and ad­vanc­ing mod­ern­iza­tion. So­cial­ism with Chi­nese char­ac­ter­is­tics has en­tered a new era. The Chi­nese peo­ple are pur­su­ing the Chi­nese dream. In the mean­time, In­dia puts for­ward a vi­sion of “New In­dia”. We should syn­er­gize the devel­op­ment strate­gies and share gov­er­nance ex­pe­ri­ences.'

The am­bas­sador said that from the global per­spec­tive, in re­cent years, the de­vel­op­ing coun­tries rep­re­sented by China and In­dia have emerged as a group, con­tribut­ing to the on­go­ing 'rise of the East' in the trans­form­ing world. Against the back­drop of an­tiglob­al­iza­tion and ris­ing pro­tec­tion­ism, China and In­dia, as ma­jor emerg­ing mar­ket economies, are faced with the pres­sure of es­tab­lished pow­ers. We should co­or­di­nate our po­si­tions and also ex­plore ways to be with each other.

Amitabh Kant, CEO, NITI Aayog, said that In­dia's import from China in­creased by 50 per cent in the last four years. We im­ported about $76 bil­lion in 2017-18. We ex­ported just about $13.3 bil­lion, which is ap­prox­i­mately 3.4 per cent of In­dia's ex­port bas­ket. In­dia must make a push for Chi­nese com­pa­nies to come and man­u­fac­ture here, and the strat­egy must be – pro­duced by China, but made in In­dia. Kant added that Prime Minister Naren­dra Modi and Chi­nese Pres­i­dent Xi Jin­ping have set the di­rec­tion for bi­lat­eral ties and now, it is up to the peo­ple and com­pa­nies of both the na­tions to take it for­ward. Modi had vis­ited Wuhan to meet Xi Jin­ping on 27-28 April 2018 to exchange views on is­sues of bi­lat­eral and global im­por­tance.

Kant said that if you were to pur­sue a pol­icy that would en­cour­age many Chi­nese com­pa­nies, pro­vide them eas­ier han­dling, and ensure them a plug-and-play fa­cil­ity, so that they don't have to run around get­ting clear­ances. We should give them land, elec­tric­ity, so that they can bring the size and scale to man­u­fac­ture in In­dia, to en­able us to do large-scale pro­duc­tion and pen­e­trate global mar­kets from here.

Later, while mod­er­at­ing a ses­sion on 'Prac­ti­cal Co­op­er­a­tion', Dilip Chenoy, Sec­re­tary Gen­eral, FICCI, said that the meeting be­tween In­dia's Prime Minister Naren­dra Modi and Chi­nese Pres­i­dent Xi Jin­ping in Wuhan was a new start­ing point in China-In­dia re­la­tion­ships. He added that ex­perts were now re­fer­ring to this meeting as a new mile­stone for the two coun­tries.

Dur­ing the day, ses­sions on Strate­gic Com­mu­ni­ca­tion, Prac­ti­cal Co­op­er­a­tion and Per­son­nel & Cul­tural Ex­changes were held where in­dus­try lead­ers and aca­demi­cians from In­dia and China shared their per­spec­tives.

Dilip Chenoy, Sec­re­tary Gen­eral, FICCI (ex­treme right), mod­er­at­ing a ses­sion.

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