setting ambitious trade targets, Indian and Chinese governments
also need to focus on the smaller stuff that actually
drives investment. CNBC-TV18 has a report on Chinese President
Hu Jintao's historic visit to Mumbai.
and Chinese CEOs in one room could be a sight to shake
the confidence of most developed economies. India and
China however prefer talking about lofty bi-lateral trade
targets rather than fixing the problems hampering investment
Mitra, secretary general, FICCI, says, "We are very
disappointed with the investment flows. You cannot have
economic relationship between two countries where trade
is 75 billion and investment is 100 million."
and MD of TCS, S Ramadorai says, "We need policy
clarity, legal framework, negotiation in English, and
a policy framework to support it."
Dr Anji Reddy of Dr Reddy's Laboratories complains there
is no reciprocity between the Indian and Chinese pharma
regulators. There is also a hefty $350,000 registration
fee for pharma firms in China, and CEOs on both sides
had similar stories to tell.
Kant, MD, Tata Motors says, "There is a fairly restrictive
auto policy in China, which requires companies to have
very substantial investments. It requires minimum setting
up of capacity."
the Chinese front, Huang Tianwen, president, Sinosteel
Corp says, "An iron ore committee is establishing
in India a future iron ore export policy. And I would
be happier to see a positive export policy."
of CII, R Seshasayee, says, "There is certainly an
issue. Not so much because there is a worry about IPR.
It's an issue because we need to understand how we approach
and protect each other's rights."
Ashok Leyland is headed to China and Sinosteel is already
conducting feasibility studies on setting up manufacturing
facilities here. Maybe the two governments could work
harder on keeping that momentum going.