CII Communique November 2012

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india and the worldRetracing the Path to Prosperity:Lessons from India-China Business PartnershipA CII – Embassy ofIndia Beijing book on‘Retracing the Path toProsperity – Lessonsfrom India-ChinaBusiness Partnership’was released duringthe inauguration of theIndia Show, organizedconcurrently with the6th China InternationalAuto Parts Expo on26 October in Beijing.Chandrajit Banerjee, Director General, CII; Wang Guiqing, Vice President, China Chamber of Commercefor Import & Export of Machinery & Electronic Products; S Gopalakrishnan, President Designate, CII, andCo-Founder and Executive Co-Chairman, Infosys Ltd; Dr S Jaishankar, Ambassador of India to China;Rajive Kaul, Past President, CII, Chairman, CII Trade Fairs Council, and MD, Nicco Corporation Ltd; andAsit Tripathy, Joint Secretary Union Ministry of Commerce, India, releasing the CII-Embassy of Indiabook on ‘Retracing the Path to Prosperity – Lessons from India – China Business Partnership’ in BeijingSpeaking on the book, Dr S Jaishankar, Ambassador ofIndia to China, said, “Like the rest of the world, India toohas to appreciate the full implications of the continued riseof China. While our relationship has its share of challenges,China is also an opportunity on the economic side. Bilateraltrade has grown manifold in the last decade and we areentering a phase of greater mutual investments.” Stressingon the need for more Indian businesses to engage withChina, the Ambassador added “Indian companies mustrealize that an important aspect of market access in Chinais having a proximate presence. Secondly, like other largemarkets, local production is a must to address localdemand, both in scale and in its customization. Third,leveraging China’s many efficiencies could assist Indiancompanies in their quest of becoming global.”In recent years, the relationship between China andIndia has maintained good momentum for all-rounddevelopment. With the joint effort on both sides, theremarkable progress achieved in bilateral trade andeconomic cooperation is the highlight of the bilateralrelations. China is now India’s largest trading partnerwith around US$ 74 billion worth goods traded last yearand aiming to touch US$ 100 billion by 2015.Commenting on the Indian investment in China, Mr SGopalakrishnan, President Designate, CII, and Co-Founderand Executive Co-Chairman, Infosys Ltd, said that theIndian manufacturing and IT companies are making seriousmoves in China, demonstrating their capabilities in high-techengineering, software development, banking and forex tradingplatforms. India's IT companies started their businesses inChina by serving large multinational clients in the country butare now closely working with various Chinese companies inhelping them to improve their technology and make themmore competitive. Similarly, Indian manufacturing companieshave been setting up their factories in China in their aspirationto be global players in their respective sectors. Theseinvestments have not only helped them to make inroadsinto the domestic market, but have also become a platformto explore new markets, he added.Indian and Chinese companies are setting up operations ineach others’ countries, in some cases for global markets,said Mr Chandrajit Banerjee, Director General, CII. Theinvestments by Indian corporates in China range acrosssectors like IT, Pharma, Auto components, RenewableEnergy, Machinery, Engineering, Electronics etc. Thesecompanies have established themselves and seamlesslyintegrated into the local ecosystem, thereby makingsignificant contributions to the Chinese economy, societyand local community, in their own manner. “In spite of ourgrowing trade, the bilateral investment of about US$ 1 billionrepresents a huge untapped potential considering the sizeand scale of the two economies. Hence there is a needto take our bilateral relations from pure trade to investmentledtrade, in order to make this economic relation moresustainable and long term”, said Mr Banerjee.This book captures the positive contribution and successfulstrategies adopted by Indian companies invested inChina, to serve as a useful reference for potential Indianinvestors. The stories are captured under the themesLeading the Innovation Charge, Conquering GlobalMarket, Grooming World-class Managers, Boosting theLocal Economy and Giving Back to Society.“This book is yet another initiative of CII in its effort tobuild a strong sense of ‘Brand India’ in China, and sendout a strong message that Indian industry and peopleare valuable business partners,” said Mr Banerjee.Communiqué November 2012 | 21
eventmedia & entertainmentNew Paradigms inMedia & EntertainmentIndia’s Media and Entertainment industry, which includes television, print,radio, and digital media, was pegged at $15 billion at the end of 2011.‘India-The Big Picture,’ CII’s Media & Entertainment Summit discussedissues such as market-driven approach, inadequate focus on certain vitalsectors, censorship hurdles and the roadmap, moving forwardUday Kumar Varma, Secretary, Union Ministryof Information & Broadcasting, addressing theInaugural Session of ‘India –The Big Picture’ inNew Delhi. Also seen:Chandrajit Banerjee, Director General, CII;Andy Kaplan, President, Worldwide Network,Sony Picture Television, and Amit Khanna,Chairman, CII National Committee on Media& Entertainment, and Chairman, RelianceEntertainmentThe new vulnerability of power, its fragilityand brittleness, a different matrix ofaccountability and a deficit of legitimacyare redefining the traditional role of the media.Speed of communication, the expanding publicinformation space and innumerable points fromwhere information is emanating have redefinedthe media industry, and the impact is felt theworld over, including India.This was the focus of discussion in varioussessions at ‘India-The Big Picture,’ CII’s Media &Entertainment Summit, held in New Delhi on 29-30October. Representatives of the fourth estate and thefilm world concurred on some points and differed onothers, as they discussed issues such as market-drivenapproach, inadequate focus on certain vital sectors,censorship hurdles and the roadmap for the $100 billionIndian M&E industry.“We are drunk on our own volumes: largest numberArun Jaitley,Leader of theOpposition(Rajya Sabha)of newspapers in circulation, largest numberof television viewers at 400 million, 100 milliondigital consumers. Digital, in particular, isan indictment of our creative and strategiclimitations – we have 600 million mobilescreens and yet we do not have a uniquecontent proposition for the medium,” said MrUday Shankar, CEO, Star India, in his keynoteaddress, adding, “Our inability to convert thatinto corresponding value is disappointing.”“Media is a globally growing industry – but ourparticipation in that eco-system is zero and India ishardly factored into the global thought process oftechnology or content,” he added. Similarly, on thedomestic front, the industry is yet to fully unlockthe potential of the vast market. India’s Media andEntertainment industry, which includes television, print,radio, digital media, was pegged at $15 billion at theend of 2011. The industry is growing at around 14%22 | November 2012 Communiqué
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CII Communique November 2012

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