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New Delhi issues investment advisory in Mandarin

February 28, 2013

Investing-in-IndiaIn a fresh bid to ring in investments from China, the Indian Embassy together with the International Cooperation Department of National Development and Reform Commission (NDRC), the top economic management agency in China released a sector-wise investment guide specifically targeted towards Chinese companies. The report which includes the infrastructure, automobiles, hospitality, power and energy sectors details Indian law in Mandarin for the ease of investors.

Tackling both language and bureaucracy gap, the Indian Embassy, released the report hoping the path for India entry of Chinese companies would be significantly simplified, encouraging many more mutual collaborations. It has been reiterated at several forums that China and India both share several synergies that could propel their economies if applied in sync, yet diplomatic hurdles, mindsets and bureaucracy maim collaborations.  Recent, strengthening of economic ties are healing bilateral trade and investments. India is keen to attract the deep pockets of Chinese investors who until now have been investing in the American and European markets. With a downturn in the West, India is hoping China will pour her growing stockpile of reserves in India. However until Chinese companies see a significant return on investment, many are holding onto their purse strings.

At present Chinese investment in India is worth around US$55 billion but Indian diplomats here feel there is opportunity for much more. With a drive to push India’s manufacturing sector, Indian Ambassador S Jaishankar said Chinese companies could take advantage of India’s goal to increase the share of manufacturing in the economy from the current 16 percent to 25 percent by 2022.

Helping to move from a stance of being hostile to Huawei and other initial entrants to hospitality hasn’t been easy for the Indian government, yet with general elections just a year away, the government needs concrete proof that Indias staggering inflation and infrastructure are within their helm. Foreign investments which have recently fallen need to bouyed up to raise investor and consumer confidence before elections.

“On the other hand, both the governments should intensify communications, coordination and promotion through relevant platforms such as the India-China Strategic Economic Dialogue (SED) mechanism so as to create a more open and more convenient investment environment,” Zhang was quoted in a press statement by the Indian Embassy as having said.

A copy of the report can be procured from the Indian Embassy in Beijing.

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