Chines province to tap Indian software majors to boost IT business

China is planning to invite Indian software majors like Infosys and HCL to set up units in IT and BPO parks coming up in Jiaxing city, a Chinese official has said.

About three to five IT/BPO parks are coming up in Jiaxing city and the local authorities are in the process of contacting big IT companies from India like Infosys, HCL and TCS, Shen Wenping, vice director of Jiaxing Municipal Bureau of Foreign Trade and Economic Cooperation, said at a CII meet.

Jiaxing received FDI totalling $8.69 billion and has now around 30 foreign companies in operation, eight of which are of Indian origin, he said, adding, the Indian companies are doing business worth $71.4 million in the city.

India is the 15th largest export destination and the 29th largest exporter for Jiaxing, said Wenping. Jiaxing exported goods worth $230 million to India even as total trade amounted to $250 million.

Trade between India and China is likely to touch $60 billion in 2009, up from $51.7 billion last year.

The Chinese deligation is on a visit to India to promote Jiaxing as an attractive investment destination for Indian enterprises and to foster bilateral ties.

The delegation aims to explore potential opportunities for individually owned companies in Jiaxing to invest overseas. It also attempts to promote cooperative projects with India, and seek new sources of imports, he said.

China is pushing development of infrastructure and education sector and Wenping invited Indian enterprises to operate language schools from China.

He welcome the delegation to provide complementary capabilities for business opportunities in pharma, hardware, bulk drugs, power & energy, environment, tourism and several other areas as well.