According to him, the bilateral trade between India and China hit a new high of USD 136 billion last year, with USD 118 billion of Chinese exports to India and USD 18 billion of Indian exports to China.
Kong Xianhua, China’s consul general in the hub of finance, emphasized on Tuesday that there is a huge possibility to increase Indian exports to the northern nation.
At a promotion event for the China International Import Expo, Mr. Xianhua acknowledged the significant trade imbalance in his country’s favor.
“…give more emphasis to China, ‘Make in India’ should embrace Chinese market,” Mr. Xianhua advised the sector.
According to him, the bilateral trade between India and China hit a new high of USD 136 billion last year, with USD 118 billion of Chinese exports to India and USD 18 billion of Indian exports to China.
However, he noted that the figure does not provide the “full story” and that many of China’s exports are actually intermediate goods that eventually turn into Indian exports to other nations.
Additionally, Mr. Xianhua urged the businesspeople to make friends with Chinese clients and merchants in order to “win their hearts” with the goods and charm.
Mr. Xianhua told conference attendees that India excels in information technology and filmmaking and urged them to “take advantage” of their areas of expertise.
Mr. Xianhua cited Beijing’s ‘Digital China Construction’ strategy, which aims to digitally change both the entire economy and society. He claimed that this plan will result in a significant increase in demand for IT services.
He continued, “I certainly hope my Indian friends won’t miss this digital feast.
He added that mutual trust can only be formed through comprehending the partner’s “mindset and morality” in order to create a successful business collaboration. He continued, “Over 2 lakh Indians are living happily in Shanghai.”
According to the diplomat, the China International Import Expo, which is slated to take place in November this year, is the ideal way for newcomers to enter China. He added that during the expo’s most recent edition in 2019, more than 5 lakh Chinese came to see the 3,800 vendor stalls.