Reliance plans foray into electronic mfg with Chinese investment

New Delhi, May 21 (UNI) China today evinced interest in investing in Reliance Industries' to manufacture TV and other electronic equipment along with R&D in the sector.

Speaking on the sidelines of a seminar on India-China Economic Cooperation, Deputy Director Zhenjiang Foreign Trade and Economic Cooperation Bureau, Gui Quiliang said there existed a strong possibilty on investing in Reliance.

''We visited Reliance in Mumbai recently to explore all possibilties for a likely investment and cooperation in the field of R&D. We are looking into the specifics but it will be in the field of manufacturing of television and electronic equipments,'' said Mr Quiliang.

The seminar focussed on the opportunities of doing business in China's Zhenjiang province and the benefits that can accrue.

''The province is one of the best for doing business because of its environment and infrastructure. The lower operating cost in the province compared to Shanghai makes it an attractive investment destination,'' said Ambassador Republic of China Sun Yuxi.

''The present volume of trade between both the countries is 25 billion dollars and it can reach to 50 billion dollars by year-end.

With volumes increasing 40 per cent each year, we might reach 80 billion dollar mark by 2010,'' said Mr Yuxi.

Last year, the bilateral trade between the Zhenjiang region and India was pegged at 133 million dollar with 91.87 million dollar being exports to India and 43.54 million dollar forming part of imports.

''Our Zhenjing administrative service makes it easy to invest in the region and we attach great importance to the protection of Intellectual property Rights,'' CPC Zhenjiang Committee Party Secretary Shi Heping said.

UNI