China gears up for slice of $- trillion Indian infrastructure pie
10 Dec 2011
With India planning investments of over $1 trillion in infrastructure projects in the next five years, Chinese companies are gearing up to cash in on the opportunity, according to a minister in the Chinese embassy.
"The Indian government's plan to invest $1 trillion in infrastructure projects offers excellent opportunites for Chinese companies to participate," Wang Xuefeng, minister at the Embassy of China, said at an event in New Delhi.
Wang was addressing delegates at a roundtable conference titled India China Economic Cooperation: Win Win Situation` organised by The Associated Chambers of Commerce and Industry of India (Assocham).
``In the past three years, Chinese enterprises have completed India infrastructural projects with a total value of $10 billion."
Wang said the two-way investment is also showing a booming trend as China`s ever-growing market also means huge space for Indian companies, which he felt offered several competitive advantages in manufacturing and infrastructure construction.
He discounted fears of hikes in tariff and non-tariff barriers on Indian imports of some Chinese goods or a complete ban on specific items like power and telecom equipment.
According to Janata Party chief Subramaniam Swamy, who was also present at the event India and China needed to identify complementaries in the areas of manufacturing, services and innovation.