Financial Daily from THE HINDU group of publications
Tuesday, Apr 15, 2003
Financial Daily from THE HINDU group of publications Tuesday, Apr 15, 2003 |
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Industry & Economy
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Foreign Trade CII's `India Club' to open up China for small-scale sector Ashwini Phadnis
NEW DELHI, April 14 HOW would you like to join a club, the annual membership of which is Rs 4 lakh, if you are from the small sector which offers you an opportunity to do business not only in China but also other parts of the world. This opportunity could come your way if you join the `India Club', which the Confederation of Indian Industry (CII) is to launch in Shanghai in October. Being publicised as a `one-stop-shop' for doing business in China, the `India Club', to be located at CII's new office in Shanghai, is to focus on export opportunities in China, advise companies on outsourcing opportunities and also on investment opportunities. Besides, it will also encourage companies to participate in fairs in each other's country apart from organising sectoral trade and investment missions. Further, it will also prepare studies on products and market reports, which, however, will be on a fee basis. Plans are also afoot to hire professionals from both India and China, and have a team in India to service members who join the club. "Many large companies already have a presence in China. However, the opening of the club should benefit the small and medium enterprises from India who are looking for business opportunities in China," CII's Senior Director, Mr Piyush Bahl, told Business Line. Attempts will also be made to encourage at least 40-50 Indian companies to display their products and services at the club so as to make a lasting impression on the minds and hearts of Chinese people. Besides, CII is also hoping that having the India Club in the same building from where companies from different corners of the globe do business could lead to some incidental business also being generated for Indian companies. CII officials claimed that already two Indian companies - one from the leather industry and the other with interests in herbal products - had shown interest in taking up membership of the club. The decision to have the club in Shanghai instead of Beijing has been taken as the bulk of economic activity takes place in south and south-eastern part of China. However, members of the CII office will travel to different parts of the country scouting for more new business and investment opportunities.
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