China should keep calm about India, start work on effective growth strategy: Chinese media
A state-run newspaper on Sunday said that China should "keep calm" and start working on a more effective growth strategy for the new era. It also said that India is receiving a "massive influx" of foreign investments which will greatly enhance its ability to develop the manufacturing sector. "This massive influx of investment by foreign manufacturers is of great significance for India's economy, employment and industrial development," an article in the Global Times said.
"China should be calm seeing India's rise. To cope with competition from India, China could start working on a more effective growth strategy for the new era now," it said.
The
influx
of
foreign
manufacturers
is
addressing
some
of
India's
weaknesses
and
enhancing
its
manufacturing
ability,
with
Chinese
companies
also
playing
an
important
role
in
the
process,
according
to
the
article.
"This
is
a
repeat
of
China's
introduction
of
foreign
investment,
which
is
why
it
is
likely
that
India
may
succeed.
"If in the past India lacked capital, a developed manufacturing sector and skilled manufacturing workers, the foreign manufacturing inflow is now helping India address the problem, backing up the government's 'Make in India' initiative," it said.
The article listed a host of foreign companies including some of the Chinese firms which are investing in India. "It should be pointed out that what is happening in India occurred in China two decades ago.
"Just like what happened with China during its reform and opening-up, the arrival of foreign manufacturing will greatly enhance India's ability to develop its manufacturing sector, which will help in cultivating a large number of skilled workers, managers and factories," it added.
PTI