Chinese envoy bets on ‘Make in Chindia,’ signals a new phase in business ties

Underlining an emerging synergy between ‘Make in India’ and ‘Made in China’, China’s Ambassador to India Le Yucheng has projected a new template of “Make in Chindia”, which envisages closer collaboration in manufacturing and businesses between the two Asian giants.

Speaking at the China-India Industrial Cooperation Seminar, organised by the Federation of Chambers of Commerce and Industry of India (FICCI) in New Delhi on June 10, Mr Le said that China has recently rolled out “Made in China 2025” campaign, featuring innovation and high-end manufacturing among others, which he said was compatible and complementary with India’s Prime Minister Modi-led “Make in India” strategy.

Building upon the prime minister’s visit to China last month, which resulted in the signing of 26 business agreements worth $22 billion, Mr Le said that China was looking to invest in India in a range of projects, including manufacturing, human-resource, real estate and infrastructure development, smart city projects and railways. He also lauded the Modi government for taking a host of initiatives to enhance government efficiency, improve market environment, and make it easier for Chinese businesses to invest in India.

“Prime Minister Modi said that for foreign investors, there is no red tape, but only red carpet in India. The latest developments have proved that the red carpet is ready for Chinese investors,” he added.

According to the Chinese envoy, there are three important keys to enhancing India-China relations: focus on infrastructure and manufacturing, local-level cooperation where the greatest potential lies and enhanced cooperation among business community.

“First, the key areas of China-India industrial cooperation are infrastructure and manufacturing. Infrastructure is the very foundation of connectivity, which is essential to bring about a true Asian century with shared development of China and India,” he said.

“Second, the key focus of China-India industrial cooperation is at the local level, as this is where the greatest potential lies.”

“Third, the key driver of China-India industrial cooperation is the business community. We are now witnessing a new wave of business cooperation between our two countries with many success stories.”

The envoy reiterated that the two neighbours and emerging economies, China and India, have been close to each other geographically, culturally, and philosophically. This was the right time to advance China-India industrial cooperation, as China has moved into a new stage of industrialization with several advanced and competitive industries are ready to go global, he stressed. The envoy highlighted India’s enormous demand and great potential in industrialization and stressed that the two can move forward and take their economic cooperation to a whole new level.

Placing the enhanced business synergy between India and China in the context of an emerging Asian century, the envoy said: “I am confident that so long as we seize the opportunities of the day and work together in a joint pursuit, we will usher in a new chapter in China-India industrial cooperation, create new splendor in the duet of the dragon and the elephant, and bring about new progress of the Asian Century.”

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