Thirty five Indian companies attending Canton Fair in China
Press Trust of India
Beijing, April 15:
Thirty-five Indian companies are participating in the China's biggest trade show ‘Canton Fair', hoping for a major opening into Chinese markets as Beijing plans to permit more foreign goods to boost to its domestic consumption.
The Indian Pavilion at the five-day fair, which was kicked off on Sunday at Guangzhou, was inaugurated by Mr Rahul Chhabra, Charge D'Affaires of the Indian embassy, along with Mr Indra Mani Pandey, Consul General of Guangzhou.
With 70 booths, Indian Pavilion is trying to create an impression at the mammoth fair which is being attended by thousands of local and foreign businessmen.
“We estimate that the value of orders placed by overseas buyers will maintain the record of $37.9 billion set in the autumn session of the 110th Canton Fair last year,” the Deputy Director-General of the China Foreign Trade Centre, Mr Liu Jianjun, said.
According to the organisers, more than two lakh foreign buyers and 1,04,000 domestic exporters have applied permission to attend the trade fair.
Indian companies have displayed products ranging from carpets, leather goods, household goods, coir mats, hand tools, ceramic tiles, submersible pumps, inverters and batteries, stainless steel kitchenware, PVC pipes, air coolers, pressure cookers et al.
The Indian diplomats met the Indian businessmen and urged them to explore the Chinese market for their exports, stressing that in view of China's strategy to encourage domestic consumption, the demand for Indian goods and services may increase in future.
They offered all assistance required by Indian exporters in exploring Chinese market for their products and services, an Indian Embassy statement said here.
China, the world's second largest importer, last month said it plans to cut down duties on some energy products, raw materials, consumer goods closely related to people's daily lives, and key items that China does not produce.
China overseas trade
China's overseas trade touched $3.64 trillion last year. While exports accounted for $1.9 trillion, imports rose to $1.74 trillion.
Chinese imports constituted nine per cent of the global imports.
The Chinese Vice-Premier, Mr Li Keqiang, last month said that China will import $10 trillion worth of goods and services in the five years ending 2015.
Though India-China bilateral trade has taken off in a big way touching about $73.9 billion, the trade deficit for India has piled up to $27.07 billion.