Consulate General of India, Shanghai; Yancheng Municipal People’s Government andConfederation of Indian Industry (CII) jointly organized ‘‘India –China (Yancheng) Business and Investment Seminar’’ on May 24, 2012 atYancheng, Jiangsu. Yancheng is home to prominent Indian companies suchas Mahindra & Mahindra, Larsen & Toubro and Sylvania Havells.

The primary objective of the Seminar was to address Chinesecompanies interested in investing in India and to give an overview ofFDI policy, basic tax and business laws, financing options etc. in Indiaand also highlight many opportunities for Chinese companies to findmutually beneficial business collaborations with more than 150 prominentIndian companies present in China in diverse fields such as engineering& automobile, IT & BPO, chemicals & pharmaceuticals,banking, textiles, shipping & logistics etc.

Consul General Mrs. Riva Ganguly Das led a delegation ofIndian companies & banks from the Eastern China Region to Yancheng.Chief Representatives, CEOs & senior executives of Axis Bank,Canara Bank, ICICI Bank, Union Bank of India, Punjab National Bank,State Bank of India, Aditya Birla Group, BHEL, GMR Energy, LMW TextileMachinery Co. Ltd., Micromatic Machinetools, Sundaram Fastners, MahindraYueda Yancheng Tractor Co. Ltd., TATA Sons Ltd, Tractor & FarmEquipment Co. Ltd., Thermax Zhejiang Cooling & Heating Co.ltd., Virgo Engineers Ltd., Jiangsu Kingday Textile Co. Ltd., LupinPharmaceutical Ltd., and Infosys were part of the delegation. 

The delegation was warmly received & hosted by Mr.Zhao Peng, Party Secretary of Yancheng.  Mr. Zhao conveyed the stronginterest of the Yancheng Government in deepening cooperation in IT,Engineering, New Energy, chemical & pharmaceutical sectors withIndia.   Consul General expressed the hope that the Seminar will resultin greater business links between Indian companies & financialinstitutions and Yancheng based Chinese companies.

In the opening address, Mr. Cao Youhu, Vice Mayor of Yancheng Municipal People’s Government saidthat the joint initiative offered a unique opportunity to Yanchengbased companies to engage with Indian companies. He gave an overview ofthe Overseas Investment Policy of Yancheng. He said the policyencourages Chinese companies from “Going Global” by way of favorablepolicy, speedy approval and financial assistance.

Speaking at the event, Consul General Mrs. Riva Ganguly Dassaid that with a combination of factors such as macro-economicstability, consistent growth, abundant skilled manpower, well-developedbanking and judicial system, a vibrant capital market and its largescale investment absorption capacity, India offers attractive returns toprospective Chinese investors. With about a trillion dollars ofinvestments expected in the Indian infrastructure sector in the nextfive–six years, there are a number of business opportunities for Chinesecompanies to invest in India, in infrastructure projects, dedicatedfreight corridors, subway lines and SEZs which are being created throughPublic Private Partnerships, said Mrs. Das.

Senior consultants from CII, Deloitte, State Bank ofIndia made presentations on FDI policy of India and other relatedbusiness laws and financial opportunities for investing in India. Seniorrepresentative of Mahindra & Mahindra made presentation on ‘SEZs inIndia with special reference to Mahindra’s SEZ’. Mr. Chen Yunhua,Chairman of Jiangsu Yueda Group shared his experience of doing businesswith India. The Mahindra Yueda Yancheng Tractor Company Ltd(MYYTCL), a JV of Mahindra & Mahindra (M & M) and Yueda Grouphas proved as a stellar example of successful partnership between Indian& Chinese enterprises in China.

The Seminar provided Indian and Yancheng based Chinesecompanies with a platform to forge new business alliances as well aspromote two-way investments. Altogether 150 participants with more than100 representatives of Yancheng & northern Jiangsu based companies,government officials and media representatives participated in theSeminar. One-on-one meetings between Indian and Chinese companies werearranged.

After the Seminar, Indian delegation visited The Mahindra YuedaYancheng Tractor Company Ltd (MYYTCL), a JV of Mahindra & Mahindra(M & M) and Yueda Group, which is 5th largest tractor factory inChina and the largest ever tractor manufacturing facility of M & M.

Party Secretary of Yancheng Mr. Zhao Peng with Consul General

Consul General exchanging gift with Party Secretary of Yancheng

Vice Mayor of Yancheng Mr. Cao Youhu addressing the India- China ( Yancheng) Business & Investment Seminar

Consul General addressing the Seminar

Mr. Chen Yunhua, Vice Chairman of CPPCC, Yanchengand Chairman of the Board, Jiangsu Yueda Group sharing experiences ofdoing business with India

Presentation by Mr. Xue Shengtang, Director of Yancheng municipal Economy & IT Commission on Industrial Economy of Yancheng

Mr. Rangarajan Vellamore, Chairman CII-Indian Business Forum and CEO, Infosys Technologies (China) Ltd. addressing the Seminar

Presentation by ‘ Investment Opportunities in Indiaand India’s latest FDI policy’ by Mr. E B Rajesh, Chief Representativeof CII in China

Presentation on ‘ Basic Tax & Company LawLegislation as applicable to FDI in India’ by Mr. Enwright De Sales,Managing Director- India Tax Services, Deloitte Touche Tohmantsu CPAltd.

Presentation on ‘ Financing Options for ForeignInvestors in India’ by Mr. K S V Rao, Vice President, State Bank ofIndia, Shanghai

Presentation on Special Economic Zones in India byMr. Sanjeev Mohoni, President & CEO, Mahindra Yueda ( Yancheng)Tractor Co. Ltd.

Vote of Thanks by Mr. Ninad S Deshpande, Consul (Economic & Commercial), Consulate General of India, Shanghai

Indian delegation and Chinese participants at the Seminar

The Seminar in progress

Indian delegation at the Seminar

Mahindra Yueda (Yancheng) Tractor Co. Ltd.

Visit of Indian delegation led by Consul General to Mahindra Yueda (Yancheng) Tractor Co. Ltd.

Indian delegation led by Consul General at MahindraYueda (Yancheng) Tractor Co. Ltd. along with Board members of MahindraYueda and officials of Yancheng Municipal People’s Government