An insightful conversation with the Consul General of China in Mumbai His Excellency Kong Xianhua, sheds light on the nuances of this burgeoning trade relationship and the strategic imperatives to further bolster bilateral trade cooperation, in conversation with Mewati Sitaram.
Q: How do you interpret the significant surge in bilateral trade between China and India during the first two months of 2024, especially considering the challenging global trade environment and various trade restrictive measures imposed by the Indian government?
CG: The surge in bilateral trade between China and India, with a remarkable 16% increase in the first two months compared to the previous year, signifies the resilience and vitality of our cooperation. Despite global challenges and trade restrictions, our economies are mutually complementary, benefiting both our nations. However, some restrictive measures by the Indian government run counter to this trend, and we hope to see more constructive measures in the future.
Q: In what way do you assess the impact of the rapid growth in trade between China and India on the overall economic relations between the two countries, and what strategic measures are being considered to further enhance and diversify bilateral trade cooperation in the future?
CG: Economic cooperation is the cornerstone of China-India relations. Deeper economic ties foster common ground and strengthen our relationship. We are committed to facilitating Indian business ventures in China through initiatives like the China International Import Exhibition Promotion Event and streamlined visa processes. Our aim is to bolster economic ties and elevate cooperation levels.
Q: Given recent growth trends in China’s trade with India, particularly in sectors such as active pharmaceutical ingredients and electronic components, how do you envision leveraging this momentum to strengthen economic ties and foster greater collaboration between Chinese and Indian businesses, especially in emerging sectors and high-tech industries?
CG: The breadth of China-India trade encompasses a wide array of products and services, presenting ample opportunities for cooperation. Collaborative ventures, such as the JSW MG Motor Joint Venture in EV technology, exemplify our growing synergy. China’s emphasis on innovation-led development and high-quality growth aligns with India’s strategic initiatives, paving the way for enhanced collaboration in emerging sectors and high-tech industries. We foresee a bright future of cooperation and mutual benefit.
Editor in Chief : Mewati SItaram
