China & India enter deal for high speed train manufacture: Chinese Consul General

Kolkata
23 Feb 2017

MCCI organized an Interactive Session with Ma Zhanwu, Consul General for People’s Republic of China in Kolkata on ‘Keys to Growing India-China Commerce & Trade’ on Wednesday.
Speaking on the occasion, Mr. Zhanwu observed that strong interactions have taken place over last 1000 years between China and India, especially West Bengal. Strong cultural ties with Bengal are promoted through International High Tech Cultural Device Cluster (TCDIC). This comprises popularization of the works of Tagore in China. Chinese doctors are skilled in acupuncture treatment which is highly demanded by Indians while India’s Patanjali health products are popular in China. China has entered into agreement with India regarding manufacture of high speed trains. He proposed that the Chamber could suggest names of authentic Indian companies who can partner with the Chinese companies for doing business in either nation.
China invited Chief Minister of West Bengal to visit Gansu province to promote West Bengal and further more economic trade and development. Healthcare, Tourism and IT are sectors where further cooperation of business was possible apart from manufacturing units. Mr. Zhanwu suggested that both countries’ governments should work together to enable proper utilization of the money which China promised to invest in India. He had three propositions towards this: 1) A China-India friendship Treaty would help in promoting feelings of trust and friendship. China does not see India as a threat and does not want to impose threat for the latter. 2) A Free Trade Agreement (FTA) between China and India could facilitate trade and commerce. 3) While China can support India in its Look East Policy, India can support China in The Belt and Road Initiative for greater interconnectivity.
Ramesh Agarwal, Vice President, MCCI in his welcome address mentioned India’s growing trade deficits with China. He mentioned that infrastructure will provide largest opportunities for growth of Chinese investors in India. He enquired what steps the Consulate is taking for getting investments from China to the East including West Bengal. He suggested that with increasing restrictions from USA on global trade, India and China can forge their bi-lateral ties closer. (EOIC)