Although some progress has been made in bilateral trade in recent years, China and India should clear away existing hindrances and cooperate further in the IT sector, according to Atul Dalakoti, executive director of the Federation of Indian Chambers of Commerce and Industry (FICCI) China Office.
Dalakoti made the remarks in a Friday interview with china.org.cn during the two-day 2004 Council Conference of China International Institute of Multinational Corporations in Beijing.
As a prominent IT producing nation, India exports enormous amounts of software and IT products worldwide each year. Indian IT giants have been entering the Chinese market in the past several years and many well-known Indian IT companies like Infosys, Satyam, Tata Consultancy Services and NIIT have already invested here.
“China has advantages in manufacturing. Indian IT enterprises can help them improve production capacity and product quality,” he said.
However, there are still government regulations hindering further cooperation. Dalakoti noted that many Indian IT giants still hesitate to invest heavily in China. But he pointed out that pulling these barriers down will benefit both sides.
Dalakoti also praised China’s rapidly developing IT industry highly, despite the competition between the two countries. He believes that competition in IT production and outsourcing is a healthy way to promote development.
“There are many opportunities, and the pie is big enough for everyone to have a slice,” he said.
Dalakoti also hopes to expand bilateral trade in general. In the past several years, Sino-Indian trade has increased rapidly: total trade for the current year is estimated to be about US$8 billion, and it is expected to top US$10 billion next year.
(China.org.cn by staff reporter Tang Fuchun July 10, 2004)
