|
|
EMBASSY OF
INDIA
BEIJING
|
|
|
|
|
FOR IMMEDIATE RELEASE
|
Download
the original attachment
Thursday, April 16, 2009
Press Release
INDIA BUSINESS FORUM LAUNCHED IN CHINA
The
growth in business and commercial ties between India
and China has spurred an
increasing number of Indian companies to invest in China, and has also seen the entry
of many well-known Chinese companies into the Indian market. The growing
engagement of Indian companies in the Chinese market has provided the setting
for the establishment of a new body – the India Business Forum (IBF) – which
was launched on the 15th April in the Chinese capital city of Beijing. The Forum is the
initiative of the Confederation of Indian Industry (CII). The IBF in China is the fourth such body launched by the
CII, the other three being in USA,
South Africa and Singapore. The IBF was jointly launched by Her
Excellency Mrs. Nirupama Rao, Ambassador of India to the People’s Republic of China,
Mr. Wang Jinzhen, Vice Chairman of the China Council for the Promotion of
International Trade (CCPIT), Mr Chandrajit Banerjee, Director General of CII,
and Mr J J Shrikhande, Country Head – China, Larsen and Toubro Limited, who is
Chairman of the IBF.
The launch of the IBF in Beijing
coincided with a day-long Conference on the “Impact of Global Economic Crisis:
Challenges and opportunities for India
and China”, organized by CII
in collaboration with the Embassy of India, Beijing.
The
keynote address at this Conference was delivered by Ambassador Rao. In her
address, she welcomed the launch of the India Business Forum. She highlighted
the deepening economic and commercial engagement between India and China and how the business
companies of both countries are contributing to the development of closer
bilateral ties. While admittedly bilateral commercial engagement has been
impacted due to the global economic crisis, this also presents an opportunity
for the two sides to engage each other more creatively, to innovate and seize
the opportunities. She also underlined the important role that India and China are playing through their
cooperation and coordination in the G-20 framework to help mitigate the adverse
effects of the global financial and economic crisis.
Mr. Wang Jinzhen, Vice Chairman of the CCPIT, gave an
overview of China’s economic development since the beginning of the economic
reform process 30 years ago; outlined various steps including the stimulus
package that the Chinese government has undertaken to counter the impact of the
global crisis on the country’s economy; and underlined the intent of the
Chinese government and companies to promote business ties with India including
investments.
Mr Chandrajit Banerjee, Director General of CII, while
welcoming the participants said that the CII IBF in China would help in bringing the
two counties’ economies and industries together. He stressed that during these
times of economic slowdown, it is very important to shift focus on to India and China. He added that a joint strategy can
benefit both Indian and Chinese corporations.
Mr J J Shrikhande, Chairman of IBF also gave a brief overview
of the various functions of the IBF. The IBF would provide a networking forum
for its members to interact with Government officials, academicians and
think-tanks on the macro-economic scenario and strategic business partnership
between India and China; would help in building “brand India” and analysing sectoral business
opportunities in China
in coming years.
The Inaugural session was followed by three sessions of panel
discussion, namely, “Responses to Global Recession by India & China
in a Post Crisis World, India & China Participating in each other’s Growth
Story, and Emerging Business Opportunities in India.
The event was well attended by participants from the Chinese
government, international financial institutions, Indian and Chinese Companies,
academicians and the media.
Contact
Mr. Manish Chauhan | Counsellor | +86-10-6532 3313 |
ci.beijing@gmail.com