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India, SZ come closer economically
Latest Updated by 2006-10-24 09:37:38
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In the latest sign of the strengthening economic ties between Shenzhen and India, 13 Indian companies visited Shenzhen and expressed their intention to buy millions of yuan worth of products from local companies last week.

The trade mission, jointly organized by the Shenzhen General Chamber of Commerce (SGCC) and the India-China Chamber of Commerce and Industry (ICCCI), was the largest of its kind to visit Shenzhen, said Azam Shaikh, head of the ICCCI.

The buyers have reached preliminary agreements with two Shenzhen safe manufacturers and one Shenzhen textile manufacturer to buy their products and are showing interest in electronics, chemicals and construction materials.

The SGCC will arrange for Shenzhen companies to visit India in December to seek business opportunities there, said Hu Guikai, director of the International Trade Cooperation Center of the SGCC.

The Indian buyers are interested in buying machinery and consumer products from China, where these products are manufactured at much lower costs, said Hu.

Hu believes Shenzhen is primed to get a share of the huge Indian market. "Shenzhen's advantages include its proximity to Hong Kong, where there is an Indian consulate, its position in the Pearl River Delta industrial chains and its professionals with English skills," said Hu.

The Sino-Indian trade volume surpassed US$15 billion in the first eight months of this year, up 29 percent from the same period last year.

"The whole world is eyeing the Indian market," said Hu. A few Shenzhen companies, such as Star Instrument, a manufacturer of pre-paid electricity meters, are already doing very well in India, according to Hu.

Editor: Yan

By: Helen Deng Source: Szdaily web edition
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