President Pranab Mukherjee, who is in China for a four-day state visit, wooed Chinese investors and assured them of conducive environment for business in India.
He also urged the investors to participate in the ‘Make in India’ and other flagship programmes of the Indian government.
“We are committed to providing a conducive environment for more investments from China. We stand ready to facilitate many more collaborations between the industry and businesses of our two countries across different sectors. India invites investors from China to be partners in India’s growth story,” said President Mukherjee while addressing a meeting of the India-China Business Forum in Guangzhou.
Industrialists and businessmen from both India and China were present at the meet.
With an aim to boost bilateral trade between the two countries, the President said that India would like to see a greater market for Indian products in China.
“It is a matter of satisfaction that there is emerging focus on two-way investment flows,” he said.
The President noted that the bilateral trade between India and China grew steadily since the turn of this century from USD 2.91 billion in 2000 to USD 71 billion last year.
“In an increasingly interconnected world, India would like to benefit from technology advances and best practices of different countries….The comprehensive reforms introduced in key areas of our economy have enhanced the ease of doing business in India. Our foreign investment regime has been liberalised through simplified procedures. And removal of restrictions on foreign investments,” the President said while announcing that India has recorded a growth rate of 7.6 per cent each year for over a decade now.
The President also said that global investors were growing in India by the day. In 2014, he said, there was a 32 per cent growth in investments and in 2015 India emerged as one of the biggest global investment destinations.
He added that the Indian government was setting up industrial corridors, national investment and manufacturing zones and dedicated freight corridors to stimulate investment in this sector.
Its ‘100 Smart Cities” initiative will transform India into a digitally empowered society and knowledge economy, he said.
“India welcomes your participation in these programmes. Chinese companies with inherent strengths in infrastructure and manufacturing can look towards India as an important destination in their ‘Going Global’ strategy….On their part, Indian companies can partner with Chinese enterprises in the new domain of ‘Internet of Things’ which underlines the ‘Made in China 2025′ strategy.”
“To realise the full potential of our economic partnership, it is important to bridge the information gap between our business communities,” said the President.
(With inputs from PTI)