Global Indian News
Four meetings between the leaders of India and China, spanning three continents in eight months! In a milestone that underscores the new normal and confidence in India-China relations, India’s Prime …
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Is it time for a China-India-Pakistan trilateral summit? There are hardly any takers in New Delhi for this radical proposal made by China’s ambassador to India Luo Zhaohui at a …
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River, rice and a bit of sugar – the positive flow in India-China relations that started in Wuhan washed ashore the Chinese coastal city of Qingdao, with Prime Minister Narendra …
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India’s trade deficit with China widened alarmingly to $51.86 billion with a bilateral trade of $71.22 billion in 2015, apparently indicating that the burgeoning economic relations may become increasingly untenable in near future, if the steps are not taken in the right direction.
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Narrowing India’s $37.85 billion trade deficit with China, a contentious issue between the two Asian giants, will take some out-of-the-box thinking, and greater consumer orientation. Here are some pointers on how it can be done.
A few weeks ago, as my wife Sumona was having a manicure at a nail salon in Shanghai, a thirty-something Chinese lady sitting in the next chair excitedly told her that she was simply in love with a handsome Indian star. Naturally, Sumona assumed it would be one of the Khans. “He has big eyes, a lovely smile, and is quite plump. So different from the skinny Chinese men! Look, I carry his picture on my phone,” she said. Pulling out a crystal-encrusted I-Phone 6, she showed the photo of a smiling Ram Kapoor.
Would you have ever imagined that Bade Achche Lagte Hain, a popular TV drama in India, could be so popular in China? Or that one of the most popular dance performances at last year’s Chinese New Year office parties was Jai Ho? Or that thousands of Chinese youth are enraptured by 3 Idiots (San Geshagua in Mandarin) because it reflects exactly the same kind of pressure that they experience?
The continued growth of both the Chinese market and consumer power offers Indian businesses myriad opportunities. Narrowing the trade gap is a political and economic commitment on both sides of the Himalaya. It’s up to Indian business to make the most of China’s booming consumer markets.