The Pangoal Institution held the First India-China Young Entrepreneurs Forum
The Pangoal Institution held the First India-China Young Entrepreneurs Forum

In 2018, the bilateral relations between China and India recovers rapidly under the guidance of the new strategy developed by the leadership of both countries. In terms of economy, bilateral trade volume reached 95.5 billion dollars and Chinese companies created about 200 thousand job opportunities in India last year. Moreover, until 2017, Chinese investment in India has accumulated over 8 billion dollars. It is expected that the trade and industrial cooperation between the two countries will step further in 2019.

Under this background, the Pangoal Institution and Jieli Media held the first “India-China Youth Entrepreneurs Forum” in the capital of India, New Delhi on March 27th. The forum focused on “Corporate Social Responsibility – Business and Charity” and “Cross-Cultural Leadership in Sino-Indian Cooperation”, attracting numerous professional and young entrepreneurs from both countries.

Li Baijun, the Commercial Counselor of the Chinese Embassy in India, and Praveen Bonigala, Joint Secretary General of the Ministry of Commerce and Industry of India, attended the meeting and delivered an opening speech. Other attendants include: VK Mishra, Executive Vice President of India-China Trade Center; Chairman of Modi Group, Satish Kumar Modi, a well-known billionaire and charity leader in India; Zhu Dacheng, General Manager of Sany Heavy Industry (India); Bo Jingen, General Manager of Blonde Technology (India) Co., Ltd.; Liang Zhouyang, general manager of the US-China Green Fund, and other famous senior entrepreneurs; representatives of the Pangoal Institution, senior researcher Wei Liping, and researcher Du Wenrui of the Indian Research Center.

At the beginning of the forum, Li Baijun, the Commercial Counselor of the Chinese Embassy in India, delivered an opening speech. He said that China and India, two of the biggest emerging economies in the world, have fostered good bilateral relations at a rapid pace. In bilateral trade cooperation, both China and India have benefited a lot, and financial cooperation has broad prospects. China and India have many similarities and have their own characteristics in manufacturing, service industry, and infrastructure construction. Therefore, both sides have a broad space for cooperation. China and India are neighbors and should adhere to the 5C concept of Communication, Cooperation, Contact, Coordination and Control, and Management, develop friendly relations and promote steady economic and trade cooperation between the two countries.

After that, Praveen Bonigala, the joint secretary of the Ministry of Commerce and Trade of the Ministry of Commerce and Industry, pointed out in his speech that China is India's largest trading partner. The bilateral trade volume between China and India exceeded US$95.5 billion in 2018 and is expected to exceed the US$100 billion in 2019. To create a new record of history, he suggested that Chinese and Indian entrepreneurs have a more inclusive attitude towards multiculturalism, conduct field visits each other's markets, and truly understand each other's market demands in order to promote trade and investment between China and India.

Afterward, the guests discussed “China-India Industry Complementary Cooperation”, “Corporate Social Responsibility – Business and Charity” and “Cross-Cultural Leadership in Sino-Indian Cooperation”, respectively, and the Researcher at Pangoal Institution Center for Indian Studies, Du Wenrui, Modi Group Chairman Satish Modi and the Pangoal Institution Senior Researcher Wei Liping presided the dialogue. The guests who participated in the dialogue included Singer India Chairman PN Sharma and Sany Heavy Industry (India) General Manager Zhu Dacheng, Liang Zhouyang, general manager of the China-US Green Fund, and Wu Wenkai, general manager of Shanghai Kaiwen Investment Management Co., Ltd., etc.

In the discussion session 1, Du Wenrui said that China and India are important neighbors to each other. As the world's second-largest country with a population of 1 billion and major emerging markets, the combined population of the two countries accounts for 35% of the world. The sum of GDP accounts for 20% of the world. China and India mean huge development potential and opportunities for each other and the world. The key to this is the complementary cooperation between China and India. In order to effectively promote bilateral complementary cooperation, learning from each other's language and culture, increasing field research and investigation, and conducting targeted vocational training are all indispensable elements.

Wei Liping spoke in the third session of the seminar and made a concluding remark. She said that cross-cultural leadership is an essential element in the internationalization of enterprises in the era of globalization. Multinational team members present diverse characteristics in culture, customs, thinking patterns and ways of doing things, so cross-cultural leadership in Sino-Indian cooperation is very important. Young entrepreneurs must have an understanding, respect, and tolerance for the cultural diversity of China and India in their practical work in decision-making, communication, market operations, and corporate management, using high-quality products and service to demonstrate the globalized corporate culture.

Several leading companies from both China and India participated in the forum. Among them, Modi Group was a famous private company founded in New Delhi in 1933. Its founder Seth Gujar Mal Modi is a famous Indian industrialist and philanthropist. Modi Group’s business covers education, beverages, catering, entertainment, etc. Sany Heavy Industry is the largest construction machinery manufacturer in China and the fifth largest in the world. It is also the world's largest manufacturer of concrete machinery, with business and industrial bases all over the world. Blonde Technology Co., Ltd. is the largest manufacturer of modified plastics in China and globally. It mainly engaged in the development, production, and sales of high-performance modified plastics. Singer India is a subsidiary of Singer in India, which is a world leader in the industry of sewing machine and other household goods dealers. Sino-US Green Fund is a purely market-oriented green guiding fund proposed by the Chinese and American political and business circles during the visit to China by President Xi Jinping in September 2015.

Finally, Modi Group Chairman Satish Kumar Modi and Jieli Media General Manager Hang Jiayi delivered a closing speech. In their speeches, the two sides jointly expressed their vision of deepening cooperation between Chinese and Indian companies and advocated that Chinese and Indian companies should be more inclusive of multiculturalism in their cooperation and focus more on practical development.

Some other important guests attending the conference included Kanishka Arumugam, Chairman of EKKI Pumps & Deccan Pumps Sdn Bhd, Piaget, Founding Partner of Shenzhen Qianhai Feirui Investment Partnership, Huang Xiaoling, Co-founder of Xingchen Investment Holdings, Wang Qingxi the Executive Forum of East and West Charity Forum Secretary-General, Zhu Weiqing, the Chairman of Shanghai Baoxin New Energy Environmental Protection Technology Co., Ltd., Bai Jinyin, the General Manager of Blonde Technology (India) Co., Ltd., Li Sichao, the Co-founder of Beijing Huiyu Global Family Think Tank, and Rahul Chamaria, the Executive Director of Star Cement et al.

Since its establishment on October 12, 2016, the Pangoal Institution Center for Indian Studies has been committed to promoting non-governmental exchanges between China and India and helping China-India relations. Since the establishment of the center, it has published many   reports including "Nuggets India: Are you ready?" "India Economic Information Biweekly" "Indian Industrial Watch" "China-India Relations", "BRICS Cooperation: Seeking New Development Motives", "Review of India's Economic Development in 2017".

The Pangoal Institution has successively hosted three Indian ambassadors to China: On October 12, 2016, the then Indian ambassador to China, the current Indian foreign secretary Gu Kaijie personally visited the Pangoal Institution and paid tribute to the establishment of the Center for India Studies; 2018 On January 10th, the then Indian ambassador to China, Ban Haoran chose Pangoal Institution as the first visit to the Chinese folk think tanks. The discussion between the two sides was widely concerned by mainstream Indian and Hindi media in India; January 25, 2019, the new Indian Ambassador to China Tang Yongsheng also chose Pangoal Institution as his first choice for Chinese think tanks. He reviewed and discussed the Sino-Indian relationship with many experts and scholars from the Pangoal Institution.

In addition to these events, the Pangoal Institution has also sent delegations to India to conduct on-the-spot investigations and hold related seminars and maintains a close relationship with the Observer Research Foundation, the Diagor Prize Foundation, the Indian Institute of China, and the Carnegie India Center. In September 2017, Pangu Think Tank was the first Chinese think tank to study in India after the border conflict and discussed with the Indian think tanks, media, political circles about the Sino-Indian relationship and the future from the perspective of India, yielding fruitful results. In August 2018, a delegation of young scholars from the Pangoal Institution attended the LIFE Retreat Conference 2018 in Rishikesh, Uttarakhand, discussing some topics such as youth international leadership, humanities communication, and business development. Scholars, business people, and former political leaders held round-table discussions. This summit has established a mechanism platform for enhancing mutual understanding between the youths of the two countries and promoted exchanges and cooperation between young entrepreneurs of Chinese and Indian enterprises. In the future, the Pangoal Institution and its Center for Indian Studies will continue to contribute to the development of Sino-Indian relations.

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