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Dedicated centre in China to promote investments in India
21
Jan '16
Leading companies from Wenzhou and their Indian counterparts signed 10 MoUs last week to promote trade, investments and cultural cooperation with India in 2016, the Indian Consulate General in Shanghai has said. The signing took place at the launch of a dedicated “India China Economic and Cultural Center (ICECC)” in collaboration with the local municipal government of Wenzhou at the famous Wenzhou Great Hall of the People.

The Indian Consulate General described it as a unique show that underlined the importance being attached to the Make in India campaign.Nearly 120 leading entrepreneurs from Wenzhou who are looking at investing in India, along with Wenzhou city leadership attended the ceremony.

The core strengths of Wenzhou small and medium industry include textile machinery, electronic goods, switches and electrical products, which also have a huge potential in India. Several Wenzhou manufacturers are also planning to set up manufacturing units in India in 2016, the Consulate General said in a press release.

A leading group from Wenzhou, the Aokang Group, which is into leather, real estate development and textile machinery is also looking at investing in India, said its President Wang.

Sun Wei Qing, local Wenzhou entrepreneur and CEO of Sindoz, who also partnered in initiating the ICECC and would also be leading a business delegation from Wenzhou to attend the Make in India Week to be held in Mumbai from February 13 to February 18, 2016, the release said.

Wenzhou is one of the richest cities in south eastern Zhejiang, famous for its entrepreneur led 'Wenzhou Model' of growth. (SH)

Fibre2Fashion News Desk - India

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