35 Indian companies attending China's Canton Fair.

Beijing: There is increasing trade interest among neighbouring countries of India. Lifestyle fair from Pakistan started in national capital few days back. Many Chinese companies are also in talks with Indian companies to form joint ventures and expand their businesses. As well, Pak-China Business Forum and Industrial Exhibition from 15 to 18 April started  on Sunday at Pak-China Friendship Centre in Islamabad.

Now, Thirty-five Indian companies are participating in the China's biggest trade show 'Canton Fair', hoping for a major opening into Chinese markets as Beijing plans to permit more foreign goods to boost to its domestic consumption.
   
The Indian Pavilion at the five-day long fair, which was kicked off today at Guangzhou, was inaugurated by Rahul Chhabra, Charge D'Affaires of the Indian embassy, along with Indra Mani Pandey, Consul General of Guangzhou.
   
With 70 booths, Indian Pavilion is trying to create an impression at the mammoth fair which is being attended by thousands of local and foreign businessmen.
   
"We estimate that the value of orders placed by overseas buyers will maintain the record of USD 37.9 billion set in the autumn session of the 110th Canton Fair last year," Deputy Director-General of the China Foreign Trade Centre Liu Jianjun said.
   
According to the organisers, more than 200,000 foreign buyers and 104,000 domestic exporters have applied permission to attend the trade fair.
   
Indian companies have displayed products ranging from carpets, leather goods, household goods, coir mats, hand tools, ceramic tiles, submersible pumps, inverters and batteries, stainless steel kitchenware, PVC pipes, air coolers, pressure cookers et al.
   
The Indian diplomats met the Indian businessmen and urged them to explore the Chinese market for their exports, stressing that in view of China's strategy to encourage domestic consumption, the demand for Indian goods and services may increase in future.
   
They offered all assistance required by Indian exporters in exploring Chinese market for their products and services, an Indian Embassy statement said here.
   
China, the world's second largest importer, last month said it plans to cut down duties on some energy products, raw materials, consumer goods closely related to people's daily lives, and key items that China does not produce.
   
China's overseas trade touched USD 3.64 trillion last year. While exports accounted for USD 1.9 trillion, imports rose to USD 1.74 trillion. Chinese imports constituted nine percent of the global imports.
   
Chinese Vice-Premier Li Keqiang last month said that China will import USD 10 trillion worth of goods and services in the five years ending 2015.

   
Though India-China bilateral trade has taken off in a big way touching about USD 73.9 billion, the trade deficit for India has piled up to USD 27.07 billion. India has been pushing China to open up more to Indian IT and Phrama sectors which have good prospects of doing well in China.
   
Canton Fair being held by China since 1957 is held twice in a year in three phases in April-May and October-November.

Only Phase I and III are open for foreign exhibitors.
   
India has been participating in the fair since 2008 and its participation has been coordinated by the Federation of Indian Exporters Organization (FIEO).

Source : post.jagran.com