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CII fair to boost Indo-China trade
BS Corporate Bureau in New Delhi | February 05, 2003 14:58 IST
'India versus China' is passe. The new mantra that the Indian industry is chanting is 'India and China', at least if the International Engineering and Technology Fair 2003 being organised by the Confederation of Indian Industry is any indication.
China is the partner country this year at the four-day IETF 2003, which began on Wednesday.
More than 70 companies are participating in the fair ranging from space-frame structure to table napkins, from white goods to silk fabric, from power plants to cigarettes.
The Sino-Indian bilateral trade amounted to $3.8 billion during January-October 2002, an increase of 31 per cent over the same period in the previous year.
Chinese exports to India increased 35.6 per cent in the same period. India exported 26 per cent more iron and steel, electrical machinery, paperboard, organic and inorganic chemicals, precious stones and plastics to China.
"India and China are the two fastest growing economies of the world. It is possible to increase Sino-Indian trade 40 per cent," Ashok Soota, president, CII said.
At the fair, there is a major representation by Chinese power companies at the China pavilion. For instance, the Shanghai Electric (Group) Company is one of the largest companies manufacturing and designing power generation and mechanical equipment in China.
It offers 300-600 Mw fossil-fired, 600-1,000 Mw super-critical fossil-fueled and 1,000 Mw nuclear power generation technology.
The Harbin Power Engineering Company is one of China's biggest companies for supplying completed equipment to power stations and undertaking turnkey projects. Harbin Power has implemented 15 power projects worth $1 billion internationally.
The Haler Group has a 30 per cent market share for refrigerators, air-conditioners and washing machines in China.
Haler products are sold in about 15 European and 19 American supermarket chains. A variety of white goods from the $1.3-billion GD Midea Holding Company will also be on display.
The company has 30,000 retail outlets in China and sells its products in over 100 countries.
Motorcycles and two-wheelers by the China Jailing Industrial Company and the Chongqing Kinlong Motorcycle Manufacture Company will also be on display.
The IETF 2003 will also see a major presence of China's pharmaceutical industry.At least a dozen machine tools and precision instrument manufacturers participating at the fair will also be on the look out for Indian partners.