Chinese Industry captains look towards Gujarat as the next Investment destination
Major Chinese companies keen to invest in infrastructure, heavy engineering, renewable energy and technical textiles sectors
Chinese companies looking for local partners in Gujarat
13 June 2012, Shanghai –
A fifteen-member high-level delegation comprising government officials
and business leaders from Gujarat, successfully concluded a two-day
visit to Shanghai. The delegation which showcased huge investment
opportunities in Gujarat witnessed a very strong participation in its
road show held at Shanghai from Chinese investors and companies looking
towards India, underlining the growing ties between two of the world's
fastest growing economies. As one of India's most investor friendly
state with huge thrust on Infrastructure, Gujarat talked of upcoming
large projects and big-ticket investment opportunities including Dholera
Special Investment Region (D-SIR) along the Delhi Mumbai Industrial
Corridor as well as India's first multi services Special Economic Zone
focussing on financial services - Gujarat International Finance Tech
(GIFT) City.
The
delegation led by Mr. Bharat Lal, Principal Resident Commissioner,
Government of Gujarat also held business interactions with
Shanghai-based large corporate groups with interest in infrastructure,
technology, construction, renewable energy, heavy engineering, waste
management, financial services, technical textiles, heavy engineering
and machinery, among others. The delegation along with Confederation of
Indian Industry representatives (CII) also met members of China Council
for Promotion of International Trade (CCPIT), the Government agency
responsible for promotion of investment and business, to promote
partnership between China and Gujarat.
In
the changing economic scenario, Gujarat with its excellent
infrastructure and connectivity provides a great alternative to Chinese
companies looking at reducing cost with an easy access to Gulf and
European markets.
This
visit ahead of the much awaited Vibrant Gujarat Summit in January 2013
comes in the wake of rapidly growing business and cultural ties between
China and Gujarat which got a major spur when Hon’ble Chief Minister of
Gujarat Mr. Narendra Modi led a high-level delegation to People’s
Republic of China in November, 2011 on the invitation of CPC leaders.
Mr. Modi's visits to Beijing, Shanghai and Sichuan and meetings with
China's political leaders had sparked off a huge interest among business
and industry leaders to invest and collaborate with Gujarat in several
fields.
The
State of Gujarat has recently seen huge investments from large Chinese
based companies. While TBEA, China's major power equipment maker has
signed an MoU for a $400 million Green energy park in Gujarat, BTW has
collaborated with Anand based Atlanta electrical for manufacturing of
transformers. The state which is one of India's most favoured
destination for domestic & foreign investors has been taking rapid
strides in planning its industrial infrastructure and policies, creating
a very conducive business and regulatory environment for industrial
growth. The State is pioneer in implementing the Special Investment
Regions Act and has delineated 12 SIR’s spread over 3,360 sq km, with
Dholera SIR, Petrochemicals focussed SIR at Dahej being on the fast
track. Its 55 SEZs, contribute 47% to India's SEZ exports. The State now
aspires to capitalize on its inherent financial and business acumen to
emerge as the next financial service capital of India through its GIFT
city. Incidentally, GIFT is also being modelled upon Shanghai's
financial centre at Pudong. With China’s strong foothold in these
sectors, the delegation’s meetings provided an excellent opportunity for
building partnerships.
During
the road show, Gujarat Venture Finance Ltd (GVFL), a premiere private
equity investor based in Gujarat with interests in renewable energy,
waste management and urban infrastructure also presented the huge scope
in these sectors in the State and invited investor interest for its
Golden Gujarat Growth fund.
While addressing the august gathering of leading industries and investors, Ms. Riva Ganguly Das, Counsel General of India Shanghai
highlighted opportunities offered by Gujarat which is a leading
investment destination in India. Prof Sun Yang, Vice Chairman and
Executive Director, Association of Watch World (AWW) urged Chinese
investors to participate in the Vibrant Gujarat Summit 2013 in a big
way.
The
delegation explored the possibility and held discussions for a
collaboration in engineering design and industrial planning, as Shanghai
is recognized the world over for its rapid progress in large
infrastructure like urban transportation, skyscrapers, landscape design,
riverfront, industrial complexes, waste water treatment, pollution
control, etc.
On behalf of Government of Gujarat, Mr. Bharat Lal invited Shanghai-based business leaders, investors, corporations, academicians and technologists to participate in the upcoming Vibrant Gujarat Summit, January 11–13, 2013,
to be held at Gandhinagar. The Vibrant Gujarat 2013 is planned as a
mega event with over 100 knowledge events in various sectors, several of
which are ongoing. The main exhibition will be spread over 1 lakh
square metre of exhibition space and will provide a platform to all
leading industries to showcase and explore expansion of their operations.
From
Shanghai, the delegation will move to Beijing where it has been invited
to participate in China's biggest outbound investment event - The China
Global Outbound Investment Summit being held on 14-15th June. The
summit being organized by China enterprise forum with support from
Ministry of Commerce is a platform for China's leading investors looking
for opportunities abroad. In China, Gujarat is acknowledged as a major
investment destination. At Beijing, the delegation will also hold a road
show organized by the embassy of India wherein identified industries
and investors have been invited. The delegation is also holding business
interactions in Beijing with key industries.
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