China targets $40 bn trade with India by 2010

Idhries Ahmad

BANGALORE: Buoyed by the response of existing trade partnerships with India, Chinese government hopes to touch $40 bn worth trade with India by 2010.

Currently India-China trade is worth 19 billion dollars and is India's second biggest trade partner after the U.S.

This was revealed by Chinese Ambassdor to India, Sun Yuxi at seminar held here today. Sun Yuxi expected tech cities Bangalore and Suzhou to make a significant contribution to the trade pie between the two countries.

“ While China is considered as global hub for manufacturing, India has best of software expertise to complement it," said Sun adding that tech cities Bangalore and Suzhou have the infrastructure talent and resources to complement each other and drive the engines for trade growth between two countries.

Echoing his sentiments, Sun Yanyan, vice chairman of Suzhon Industrial Park(SIP) Administrative Committee, said, “ China and India share similar goals and face huge bilateral opportunities and we are looking forward for win-win cooperation with India.” Sun said adding Suzhau and Bangalore have been recognized as the one of the world’s top ten tech cities.

The seminar titled 'Suzhon Industrial Park (SIP): Gateway to Business in China’ showcased the contribution made by SIP to the Global manufacturing, design and IT industry and entice Indian companies and entrepreneurs to start shop in SIP

Chinese Ambassdor, Sun Yuxi, delivering speech at seminar in Bangalore, Suzhou Industrial Park started in 1994 as a joint cooperation between Chinese and Singapore Government is expected to be China’s biggest software outsourcing and BPO industrial base.

The park is home to 10000 local companies and 2700 foreign invested companies. The park hosts 60000 employees and is a abase for leading TFT-LCD manufacturers, OEMs and service-providers, including Samsung, AUO, Hitachi and manufacturing 200 software enterprises including Infineon, NTC and Suzsoft.

The park also hosts 40 pharmaceutical companies in SIP with a total investment of 0.9 billion USD Among them there are some world famous names like Pfizer, GSK, Lilly, Eisai, Johnson & Johnson, Baxter, BD and Herbalife

On the sidelines of the seminar Datamatics limited, IT consulting and services company signed an agreement with DarwinSuzsoft, ITO/BPO company in china. Datatmatics in partnership with DarwinSuzsoft has set up a 20,000 sq.mt software development center in SIP, to provide software design engineering and quality assurance services. The center would connect directly with the Datamatics’ US and Mumbai facilities to provide end-to-end solutions including BPO Data Capture/Entry work.

Rahul Kanodia, managing director, Datamatics Limited, said that the both the companies jointly would invest $15 mn on the development center over a period of two years. Currently, the center houses 50 software engineers, and it is looking to ramp up the headcount to 1500 employees in 18 months.”

Apart from Datamatics agreement this seminar also witnessed another agreement between Yanyan and A Selvadurai CEO of a consulting company in Singapore to work together to bring business in China.