Economy

Seminar on India-China Industrial Cooperation

The Chinese Ambassador to India Le Yucheng has said that his country’s ‘Made in China 2025’ policy is compatible with India’s own ‘Make in India’ campaign, and a stage is set for close cooperation between the two countries, following the successful visit of Prime Minister Narendra Modi.

He was speaking at a seminar on on India-China industrial cooperation, organised by the Federation of Chambers of Commerce and Industry of India.

Ambassador Le also said that in his understanding there were three keys to advancing India-China relations: a focus on the manufacturing and construction industries, as those were industries that were bound to yield most returns on investments made; local level development in India and cooperation between the business communities. He was confident of seeing better coordination between Indian and Chinese industries in the near future.

Secretary, Department of Industrial Planning and Production Amitabh Kant, who gave the keynote address said that the current model where India imports goods from China was unsustainable economically, and that Chinese firms should increase manufacturing in India itself. Making a pitch for Make in India, Mr. Kant said that the government was working hard to ensure easier business environment in India for investors, especially investors from China.