China, not a threat to Ind eco, but business partner

Kolkata, Feb 10: China is not a threat to the Indian economy, but a prospective business partner of the future, said World Bank former senior adviser (Southeastern region) Dr Ramlal Agarwala.

Speaking at a seminar on "India-China economic cooperation," he said, " if we want to do business with China, we have to build good rapport and trade relation with them." " Currently India's main problem is that our market is flooded with cheap chinese goods. We also need to penetrate into their market. But the the problem is when India is importing from China the tariff barriers are higher, while the situation is just the reverse in case of China."

"In a representation to Finance Minister P Chidambaram I have said that tariff reduction will take some time, but India should focus on better trade fecilitation and connectivity with that country. More flights should be introduced and transport by road should be opened. Moreever, India should compliment China by providing services in various areas like financial, health , IT and legal services. Indian companies should enter joint venture and provide services in Chinese market also," he added.

He also emphasised that West Bengal being a Left Front ruled state should take active role to start dialogue with China.

Various Chambers of Commerce, including Bharat Chamber of Commerce, should send delegation to China to delve the business prospects,he said.

The programme was organised by the Bharat Chamber of Commerce.

UNI