India’s new envoy to China Gautam Bambawale has invited firms from the world’s second largest economy to invest in the country, citing heavy sales being registered by Chinese mobile phone manufacturers.
Being the sixth largest economy with the seize of USD 2.5 trillion, growing at the rate of 7 to 8 per cent, India offers a huge market and several business opportunities, he said.
According to Economic Times, Bambawale said at a seminar on ‘Investment Opportunities in India’ on Thursday, “We believe that many Chinese companies are well suited and well positioned to take advantage of the large and growing Indian market,”
“Chinese mobile phone maker OPPO has just announced that its sales revenue in India in fiscal 2016 grew by 750 per cent, thereby making it a very significant player in India’s mobile phone market. I need not say more,” Bambawale said.
He also highlighted India’s move to further liberalise business visas for Chinese travellers to India by introducing an e-visa facility.
“The entire process can be done online without a need to visit either our embassy in Beijing or any one of our consulates in China,” he said.
The seminar received an overwhelming response with more than 270 representatives from more than 190 Chinese companies attending the event, the Indian embassy said in a statement.
Rajiv Kumar, Vice Chairman of NITI Aayog, emphasised the sound economic fundamentals of India – enumerating a young working population, high savings rate and low levels of government debt as important positive indicators for the Indian economy, the statement said.
Kumar was here to attend the annual dialogue between NITI Aayog and China’s Development Research Centre (DRC).
The DRC, under the State Council, China’s Cabinet, is the agency mainly responsible for doing research on strategic, long-term issues in China’s economic and social development.
