The Free Press Journal Published A Signed Article by Consul General Zheng Xiyuan Entitled China is keen to work with India's 'Make in India'Vison
2016/02/16
 
 

On 16 February 2016, the Free Press Journal Published a signed article by Consul General Zheng Xiyuan entitled China is keen to work with India's 'Make in India'Vison.  The full text is as follows:

 

China has been very active in participating in the Make in India vision ever since this initiative was launched globally in September 2014. China appreciates and respects this program because it is  part of the Indian Government's efforts to invigorate its manufacturing sector.

Over the past two years, more and more Chinese investors have come to India to study the country's investment environment, and some of them have already taken concrete steps to invest here, such as Beiqi Foton Car Company, Shanghai Baoshan Steel Company, Taiyuan Heavy Industry, etc.

This week is earmarked by the Indian Government as the  Make-in-India-Week. This week has also witnessed the participation of some important Government's delegations from China which includes the Suzhou Government Delegation, led by its deputy mayor Yu Xingnan, Hunan Government Delegation and China Association for Promotion of International trade, in spite of the fact that the Chinese people are in the midst of celebrating their half-month long New Year holiday. 

 
Why is China keen to play a key role in The Make in India?

Firstly, the better-than-ever political relations between China and India provide a sound foundation for all-around bilateral relations. Over the past years, the leaders of two countries have regularly paid visits to each other's territories. This includes the visit of the Chinese President Xi Jinping in September 2014 and that of the Indian Premier Modi's visit to China in May 2015. All the visits further set the tone for the development of bilateral relations. Both leaders reached a consensus on a wide range of issues from  friendship and cooperation to finding new ways to boost  economy, trade and investment.

 
Secondly, both countries are aware that their respective  development strategies are essentially complimentary to each other. In recent years, China has begun its economic restructuring, which means that it has to transfer some of its manufacturing capacity overseas due to ever-increasing costs. Meanwhile, India has begun its own process of industrialization and urbanization. Therefore, there have been the initiatives of "One Belt One Road" and "Make in India", launched by China and India respectively. As part of "One Belt One Road", the concept of international production cooperation is emphasized and is aimed at strengthening industrial cooperation with the countries along the Silk Road. Under the incentives offered under the "One Belt One Road" program, more and more Chinese companies have strongly expressed their intention to invest overseas. 
 

As a vital country along the Silk Road, India is gradually becoming one of most attractive investment destinations for Chinese companies, even as introducing additional measures conducive to foreign investors are taken by Indian government. And as India gradually improves its services in favor of Chinese investors, such as fast license approval, ease of obtaining work permits and business visas, Chinese investors too will definitely contribute a lot to "Make in India" and "Make in Maharashtra".

 
Finally, China and India have become the two strongest driving forces for the entire world's economic growth. Since the beginning of the 21st century, China and India have gradually become the two fastest growing economies in the world. Both have been actively participating in the processes of regional and global integration, and have improved their respective position in respect of the international division of labor based on their own comparative advantages.

 
During recent years, in particular, the two countries have teamed up with each other, in order to tide over difficult times, taking stock of their relevant comparative advantages, and have joined hands to counter the impact of the global financial crisis. As result, both countries have managed to walk out of the shadows of this crisis and have become robust engines for the growth. In 2015, India's economic growth reached 7.5% while China clocked  6.9%, both jointly leading the world's economic development. China and India thus have great potential for common development, via the main channel of bilateral cooperation. This will be supported and bolstered through multilateral forums such as the BRICS, the SCO, the SAARC and the G20.
 

History has provided China and India with an opportunity for  rapid development. Both nations have begun carrying out their relevant obligations to shoulder new responsibilities. During the post-crisis period, both nations, which are also ancient civilizations, have begun to take stock of their cultures and traditions, and have also begun to build on their huge potential for development. They have also begun to give full play to their respective competitive advantages.

 
Facing the new era of development, both China and India have embraced the path of peaceful development. Simultaneously, both nations have also nurtured aspirations of realizing their dreams of national rejuvenation.

 
Thus, both countries should maintain their momentum of development on the one hand, while on the other continue to complement each other economically, and inspire each other to realize a common development goal.

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The author is Consul General of the Consulate General of the People's Republic of China in Mumbai

 

 

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