Senior and young entrepreneurs from China and India held discussion on complementary cooperation between two countries
Senior and young entrepreneurs from China and India held discussion on complementary cooperation between two countries

In the first discussion session, the guests discussed the current situation and development trend of the complementary cooperation between China and India. Du Wenrui, a researcher from the Pangoal Center for Indian Studies, chaired this session and 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 two countries account for 35% of the world population and 20% of the world GDP, China and India have huge development potential and opportunities for each other and the world. The key to this is the industrial complementary cooperation between China and India. In order to effectively promote bilateral complementary cooperation, it is essential to learn from each other's language and culture, increase field research and investigation, and conduct targeted vocational training.


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. In the subsequent guest speech, Zhu Dayong, CEO of Sany Heavy Industry (India) Pte Ltd, said that Sany Heavy Industry has been working in the Indian market for more than 13 years, and has several R&D centers and production centers in India. With years of experience, Sany Heavy Industry believes that the Indian market does have enormous potential. When talking about the complementary elements of Sino-Indian industry cooperation, Zhu emphasized that localization, market demand, and R&D are the three key components. He explained that Sany Heavy Industry has almost achieved 100% localization in India as most of the executives are Indians. In addition, companies need to know the local demand in order to improve their products. Moreover, it is necessary to take root in the target market have a long-term vision and carry out localized new product development.


PN Sharma, the president of Singer (India), the world's leading distributor of sewing machines and household goods, said that many companies in the industry have had years of cooperation with Chinese companies. Today China is India’s largest source of foreign direct investment in India, and India is very welcome, which will fundamentally benefit the development of China-India economic and trade relations. Traditionally, India is a big agricultural country, and manufacturing accounts for only 23% of GDP. But if India wants to become a strong country, it must vigorously develop its manufacturing industry. At present, the government has issued many favorable policies. In this regard, Chinese and Indian companies are in advantageous positions to carry out complementary cooperation. Singer (India) is a manufacturing company that has developed stable cooperation with Chinese companies. Initially, it acquired raw materials through Chinese companies. Now it plans to conduct in-depth cooperation with its Chinese counterparts in India. For Chinese enterprises, this means a vast market and huge business opportunities. For India, it means an increase in manufacturing GDP and an increase in employment. The two sides complement each other and win. In addition, Sharma stressed that cooperation in high-tech innovation and research and development will help improve the quality and sustainability of the complementary cooperation between China and India.


As the international sales and marketing director of EKKI Degan Pumps Private Limited, a well-known family-owned company of water treatment technology and water engineering in India, Kanishka Arumugam, believes that China and India are partners rather than rivals. In different industries, China and India and enterprises have their own advantages. It is very important to develop a close relationship between the two countries and to develop complementary industries. When he talked about his company’s experience of complementary cooperation with German family companies, he emphasized that because family businesses have similar characteristics and demands, they are more likely to communicate. Therefore, it is easier for family-owned companies in China and India to cooperate with each other.


Pijiefu, the founding partner of Shenzhen Qianhai Feirui Investment Partnership Co., Ltd., and the sales director of Hunan Furui Biomedical Technology Co., Ltd said that his company mainly focuses on the production of APIs and other biomedical products and cooperates with many large pharmaceuticals in India which are quite similar to many Chinese pharmaceutical companies. The main pattern of cooperation with Indian pharmaceutical companies is to directly sell raw materials to Indian pharmaceutical companies and cooperate with local drug dealers to distribute products. He said that both China and India are big pharmaceutical countries. As for now, the overall cooperation between the pharmaceutical companies of the two countries is good, but there is still huge potential. Many pharmaceutical companies in China and India have no understanding of each other, hindering the complementary cooperation between China and India in the pharmaceutical field.


Huang Xiaoling, CEO of Xincheng Investment Co., Ltd., which has invested in the film "Xihong City's richest man", said that his company mainly focuses on cultural industry investment and is very optimistic about the investment cooperation between China and India in the film field. In recent years, an increasing number of Indian films have entered the Chinese market. In 2018, there were 10 Indian films released in China, with a box office of nearly 300 million US dollars. In the same year, China’s movie box office totaled more than 10 billion US dollars, and the number of screens reached nearly 60,000. India also has a vast film market. Therefore, China and India have great potential for cooperation in cultural industries such as movies.


In addition, the guests agreed that the sound development of the China-India industry's complementary cooperation is inseparable from the emphasis and resolution of cultural differences. Zhu Dacheng said that enterprise development should not only consider the business, but also social responsibility. In cooperation with some universities, Sany Heavy Industry has established the “Sany College” to train Chinese and Indian youths in language, culture, industrial knowledge and work skills so that the young people of China and India can overcome cultural differences and work better in each other’s countries, contributing to the complementary cooperation between China and India. Kanishka Arumugam emphasized that cultural differences are one of the main reasons hindering the communication between Chinese and Indian companies. Entrepreneurs from both countries should actively understand and respect each other's cultural background. Huang Xiaoling stressed that cultural industry cooperation should pay special attention to cultural differences. She took the Indian film "Starting Line" in China's high box office as an example: it attracts a huge number of  Chinese audience because China also faces similar serious education problem so the plot is highly resonating. However, on the other hand, Bollywood epic film "Bally Holly" is a poor box office in China due to cultural differences. Therefore, she believes that cultural industry complementary cooperation and landing must pay attention to cultural integration.


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