Chasing US$ 60 billion target
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Our two successive Prime Ministers set the target of raising bilateral trade between India and China to US$ 60 billion by the year 2010. Pursuing the above target, a three-member delegation from FIEO visited Hong Kong and China from 24 to 27 June. Headed by President Mr. Ganesh Kumar Gupta, the delegation included Federation’s Past President Mr. N. Samdria and its Director General Mr. Ajay Sahai. The delegation reached Hong Kong on 24th. While discussing with the representatives of Hong Kong Trade and Development Council, FIEO President highlighted the investment opportunities available in India’s manufacturing and services sectors. He invited businessmen from Hong Kong to invest in Indian infrastructure |
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From left: Ms. Sripriya Ranganathan, Counsellor (Commerce), Consulate General of India and Mr. L. D Ralte, CGI, Hong Kong; Mr. Ganesh Kumar Gupta, President, FIEO and Mr. Navratan Samdria, Past President, FIEO |
saying that the country was looking at an investment of US $ 500 billion in infrastructure in next five years, particularly in roads, ports, airports and telecommunications. He promised Federation’s assistance in laying the groundwork for foreign investment and even forging joint ventures with Indian partners.
On the other hand, Ms. H. Joyce Hui, Director, International Promotion, HKTDC, proposed to FIEO to organize international exhibition in Hong Kong, which, she said, would attract large number of Chinese businessmen. Appreciating her proposal, FIEO President informed her that the Federation would be participating in China Sourcing Fair being organized by Global sources in October 2008.
FIEO delegates then called upon the Consul General of India in Hong Kong, Mr. L.D. Ralte, and inquired about emerging trade opportunities in Hong Kong. Mrs. Sripriya Ranganathan, Counsellor (Commercial and Culture) also joined the deliberations. Assuring all assistance for China Sourcing Fair, Mr. Ralte suggested that FIEO should organize Made in India show in Hong Kong for showcasing India’s export capabilities.
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FIEO officials then moved to a meeting with the representatives of Global Sources - General Manager Mr. Tommy T.W. Wong, Business Development Manager Mr. Sai-yu-Hui and Regional Sales Manager (South East Asia) Mr. Minish Pore. Global Sources is a billion dollar company in Hong Kong engaged in exhibition and publication business. During the meeting, FIEO President confirmed Federation’s participation in China Sourcing Fair with a team of 20 member companies. The fair authorities assured to provide all logistic support to FIEO participants and promised to set up exclusive business lounge for them. FIEO officials personally visited the venue of the exhibition and found it high in standards. At a later stage in the meeting, FIEO President inquired if the two organizations could jointly organize exhibitions in third countries. |
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Mr. Gautam Bambawale, CGI, Guanzhou (right) shaking hands with Mr. Ganesh Kumar Gupta, President,FIEO, |
| In China on
25th June, FIEO officials alongwith Consul General of India in Guangzhou met
the Chairman of China Foreign Trade Authorities and asked if FIEO could be
made the India Agent for the upcoming Canton Trade Fair. During the meeting,
FIEO DG made a power point presentation highlighting the activities of FIEO
and said its association with Canton Trade Fair authorities could be
mutually benefiting. Chairman Mr. Zhang Zhigang, Vice Chairman Mr. Chen
Chaoren Michelle Liu and Dy Director Mr. Luo Hui of China Foreign Trade
Centre joined the discussion.
Highlighting that China had become the largest trading partner of India in 2008 replacing US, FIEO President drew the attention of Mr. Zhigang to the revised bilateral trade target of US$ 60 billion by 2010 set by Prime Ministers of the two countries. He said Indian companies were looking to China both for export of finished products and import of raw materials and intermediates. In this context, he added, India’s participation in Canton Fair would make a meaningful contribution and requested that FIEO should be allotted a minimum space of 1000 sqm. in the forthcoming 104th session of Canton Fair, scheduled to be held in October 2008. Responding to this, Mr. Zhigang expressed his inability to allot more than 500 sq mt of space to FIEO saying that the more than 100 countries were to be accommodated in the international pavilion covering only 15,000 sq mt. He, however, promised to consider this request while allotting space in 105th edition of the Fair that is scheduled to be held in April 2009. Canton Fair is Asia’s biggest international fair and it was visited by about two hundred thousand business visitors in April this year. The two sides also discussed the modalities of making FIEO an India Agent for China Import and Export Authorities. The next day, FIEO officials visited the Secretariat of Canton Trade Fair Authorities headed by Ms Michelle Liu who assured that the agreement relating to grant of space would be sent to FIEO in next 10 days. On FIEO’s request of organizing roadshows on the upcoming Canton Fair in different cities in India, she said that she would place this proposal before their Empowered Committee and hoped that such roadshows could be organized in early September. The delegation also visited the office of Consulate General of India in Guangzhou and explored the possibility of opening India Trade Centre with display cum warehouse facility in Guangzhou. Mr. Gautam Bambawale appreciated the idea and advised FIEO to make an early beginning in this direction. Indian companies should dispel China fear and treat China as a big market, he pointed out. |
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| From left: Mr. Sai Yu Hui, Business Development Manager, Global Sources; Mr. Ajay Sahai, DG, FIEO; Mr. Tommy T.W Wong, General Manager, Global Sources; Mr. Ganesh Kumar Gupta, President, FIEO; Mr Navratan Samdria, Past President FIEO, and Mr Minish Pore, Regional Sales Manager (South East Asia), Global Sources | |
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Mr. Gautam Bambawale, CGI, Guanzhou, Mr Zhang Zhigang, Chairman, China Foreign Trade Centre (CFTC), Mr. Ganesh Kumar Gupta, President, FIEO, Mr. Chen Chaoren, Vice Chairman, CFTC |
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From Left: Mr. Navratan Samdria, Past President, FIEO; Ms. H. Joyce Hui, Director, HKTDC, Mr. Ganesh Kumar Gupta, President, FIEO and Mr. Ajay Sahai, DG, FIEO |
