The12th China_South Asia Business Forum was inaugurated in Kunming on June11, 2017. At9:00 of 11th, as one of the priorities of the forum, the Internationalization Sub-Forum was staged in Wyndham Grand Plaza Royale Colorful Yunnan Kunming, bringing together leaders of economic field and business communities of both China and India. They offered keynote speeches and engaged in discussion that were both extensive and in-depth as to the new vision and new opportunities for the economy and business communities of China and India against the context of regional cooperation and globalization.
As agreed among the guests of the forum: as the two largest and the most populous countries with a total population of 2.5 billion, China and India boast enormous market potential; the similar and interlinked culture and mental state mean that they have much to offer each other among industries, and both countries stand to benefit alot if they cooperate in consumption, services, medical care, investment, and other fields.
Xu Sitao, chief economist with Deloitte China, delivered a speech for the opening ceremony of the forum. He believed that India is now the strongest economy worldwide. With a national average age of less than30 years, the country has huge population dividend to be tapped into. The7%annual average growth rate has attracted an influx of foreign investment. It’s estimated that by 2050, India will emerge as an economic power on par with China and the United States. China is the largest market for India, yet the Indian market is quite insignificant to China, with a trade deficit of some$ 70 billion between them. Yet the trade surplus between China and India merits attention.
Vinod Juneja, Indian representative and Vice President of SAARC Chamber of Commerce and Industry, delivered a keynote speech. Both China and India will play a vital role in the global economic arena, and they will join hands and surpass Europe. India is well-placed to become the5thlargest market of the world, and will create10 million new jobs each year in the manufacturing industry India is ready to work with China for a future market.
During the subsequent panel discussion, guests delivered fulfilling speeches centering on“Best Practices of the Internationalization of Indian Enterprises” and “The Main Investment Areas and Success Stories of India”, and the speakers included Ajay Sahai, Director General and CE0 of Federation of Indian Export Organisations, Utpal Acharya, founder of Indian Film Studios(IFS), Sudhakar Jayaram, Executive Director and CE0 of Cancer Care Commission, Aaron Du, General Manager of Tata China, Ma Bin, Vice President of Tencent Technology, Pan Song, founder and CE0 of QiGoal Capital, and Boris Zha, founder and CE0 of HappyEasyGo.
Indian speakers offered enlightening cases and experience in industry growth and enterprise management. Mr. Sudhakar shared how India pursued innovation in the management of medical institutions of India, which had injected vigor and vitality into the medical care sector of India. Mr. Utpal invited Chinese enterprises to go to India and to engage in the cooperation of product development, and to make content products of the two countries world-class cultural offerings.
Chinese enterprises have secured a sizable presence in India. As put by Boris Zha, we should apply China’s success story to India. HappyEasyGo is shaping an Indian version“Qunar”, and will build a chain economical hotel in the future. China has also invested heavily in Indian enterprises. Interesting enough, Tencent is now rivaling with HappyEasyGo, an Indian version Ctrip and a company invested by Ctrip.
All these show that China and India are interconnected with each other. Tata Group, an Indian leading enterprise, now employs over7,000local people in China, involving automobile, finance, consulting, and others.
Chinese enterprises now seek to invest in on-line tourism, medical care, high-speed railway, infrastructure, airport, and even stock investment in India.
Pan Song believes that the following30 years will present India the best market opportunity, just as China had during the30 years’ reform and opening up.
Amid the context of the Belt and Road regional cooperation, Chinese enterprises need India for better development, while Indian enterprises are gearing up to identify the best market northwards.
For neighbors, a harmonious relationship delivers a win-win scenario. China and India, two ancient nations that enjoy a tradition of exchanges and interactions, will generate new cooperation opportunities and prospects in the new era.