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Indian companies setting up operations in Sanghai at a fast pace to participate in the explosive growth of East China
Indian corporate leaders are bullish on China.
According to media reports, over 60 Indian businesses have set up operations in Shanghai, part of the dynamic East China region which accounts for a third of India-China bilateral trade.
"The dynamic region of East China plays a vital role in China's economic development. It also enjoys the pride of place in India's growing economic engagement with China, accounting for a third of bilateral trade," said Consul-General of India in Shanghai, Sujan Chinoy.
Inaugurating an India-China Buyer-Seller meet organised by the Federation of Indian Export Organisations (FIEO) here in the eastern metropolis, Chinoy said that more and more Indian entrepreneurs were setting up operations in and around Shanghai in the East China region, contributing to the growing bilateral trade.
India-China trade in 2004 touched a record US$13.6 billion.
According to latest Chinese customs statistics, during the first six months of 2005, the bilateral trade volume has touched US$ 9.3 billion.
While bilateral trade has witnessed a remarkable increase in recent years, there has emerged a very welcome spurt in investments and technical collaboration as well, he said.
"This, and the growth in the tourism and civil aviation sectors in both countries, has resulted in enhanced people-to-people contacts," he said at the meet.
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