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Li: Roadmap for China-India investment boost soon
May 22, 2013, 9:43 am

[AP]

Chinese Premier Li Keqiang in Mumbai yesterday [AP]

Chinese Premier Li Keqiang has encouraged enterprises in both China and India to tap the potentials of each other’s markets and seize investment opportunities.

The premier was in the Indian industrial capital of Mumbai yesterday addressing the China-India Business Cooperation Summit.

Mr Li said the deepened cooperation and common development of China and India, the world’s two biggest developing countries, will create an incredible impetus to the world.

“The biggest stage for China-India cooperation is in the economy, the greatest potential is in the market, and the major players are the enterprises,” said the premier.

“The enterprises of both countries hold the key to expanding two-way trade and mutual investment,” he stressed.

Mr Li said the relevant ministries will soon be busy negotiating and making plans to create a fair and just environment for businesses from both countries to exploit each other’s markets and expand mutual investment.

Healthcare and IT are among the priorities of the reform agenda for the new Chinese administration, according to a top Chinese economist.

“If China is called the ‘world factory’, India is the ‘world office’. India has upgraded its very dynamic service sector, especially in the IT industry, significantly since the year 2000″ He Fan, consultant at the Chinese ministry of finance wrote for The BRICS Post.

“India also has its niche in the pharmaceutical sector for India’s $26 billion generic drug industry supplies much of the affordable medicine used in the developing world,” added He.

With inputs from Agencies