Indian and Chinese companies signed 129 Memoranda of Understanding (MoUs) in several sectors, including agri-products, minerals and textiles, during the ‘India-China Business Meeting & Signing Ceremony’ organised in New Delhi by the Federation of Indian Chambers of Commerce and Industry (FICCI) recently.
Zhu Xiaohong, Counsellor at the Chinese embassy in New Delhi, said though India’s agriculture products, pharmaceuticals, handicrafts have certain advantages, due to lack of necessary understanding and cognition of the Chinese market, their way into China is not smooth. She suggested the Indian side to focus more on ‘4Cs’—compatibility, competitiveness, creativity and cooperation, according to a FICCI report.
Indian companies are expanding in the Chinese market with a cumulative investment of nearly $1bn, she said. China has taken series of steps to reduce the trade imbalance and made positive progress in promoting the import of agricultural products from India, she added.