Wednesday, June 04, 2014: India is reportedly going to press Beijing for a ‘single window clearance’ concept that will enable Indian IT companies to enter the Chinese market. According to an Economic Times (ET) report, the country is eyeing the IT services industry, which is booming in the Communist country.
India is hoping that the single window concept will enable IT companies to enter the Chinese markets, A.K. Garg, additional director of the Department of Electronics in the Indian Ministry of Communication and Information Technology told ET. Garg was reportedly part of a 60 member Indian services delegation that came to take part in the third China International Fair for Trade in Services (CIFTIS) in Beijing.
Further, Garg also told ET that the Chinese market is estimated to be around $50 billion to a trillion. He said that the MoU signed between India and China in March would be useful for enabling further cooperation in the IT sector between the two most populated countries in the world.
The entry of Indian IT firms into the Chinese markets is an importat step that will address a trade gap f over $35 billion between the two South-Asian countries.
