INAUGURATION OF SYNTHITE PLANT
(DEZHOU, SHANDONG PROVINCE)

SPEECH OF AMBASSADOR
(06.06.2019)

Mr. Zhu Enhe, Mayor of Dezhou, General Secretary Mr. Zhang Lei, Dr. Viju Jacob, Managing Director of Synthite Industries, senior functionaries from Wucheng and Dezhou, representatives from Synthite Industries, ladies and gentlemen,

2.     I am very happy to be present here today on the occasion of inauguration of this plant of Synthite Factory in Wucheng in Shandong province. This is my third visit to Shandong province in last five months. As the Ambassador of India to China, it’s really an honour to be present on this joyous occasion of inauguration of plant of one Indian company.

3.     Synthite, a CII member, is one of the leading enterprises from India to foray into the Mainland China market with its first investment in Xinjiang in 2012. Their professionalism, combined with diligent planning has helped them forge ahead despite early setbacks. Currently they have operations in Beijing and Xinjiang in addition to the one we are inaugurating now. Their total investment in China is to the tune of $50 million.

4.     In recent years, India and China have been able to build a very mature and stable relationship. The informal summit between the Prime Minister Narendra Modi and President Xi Jinping in Wuhan last year was a milestone and has been instrumental in taking our relations to a new height. It is worth mentioning that last year, our leaders met four times on the sidelines of different multi-lateral meetings. Next week, they are again meeting in Bishkek on the sidelines of SCO Summit.

5.     The economic and commercial engagement between India and China constitutes a major component of our bilateral relations. Last year, our bilateral trade crossed $95 billion and we expect it to cross the $100 billion mark in the near future. Chinese investment in India and Indian investment in China have also seen robust growth in recent years. Chinese companies like Xiaomi, Haier, Oppo, etc., have become household names in India. I am also proud to inform that there are around 125 Indian companies operating in mainland China in various sectors like information technology, manufacturing, textiles, food processing, etc.

6.     During the last few years, our government has initiated a series of reforms to improve the business climate. ‘Ease of doing businesses has now become a major focus in India with various provincial governments coming forward with investor friendly policies. In last three years, India jumped 77 positions in the ease of doing business ranking published by the World Bank. Under the “Make in India” policy, we are laying out the red carpet to foreign businesses who are willing to establish manufacturing units in India. I am very happy that more and more Chinese companies are showing interest in investing in India. As per one estimate, Chinese investment in India is said to have touched $8 billion with 80% of it coming in last five years. Companies like SIAC, SANY, XIAOMI, OPPO, HAIER,have invested significantly in the manufacturing sector.

7.     We have been engaging with various provincial and city governments to encourage their companies to invest in India, manufacture in India and tap the huge Indian market as well as global market through India. We are also engaging with local governments to promote exports of Indian products, especially some of the best quality agriculture produce. Currently, India is in the best position to emerge as a stable source of agriculture commodities for China. We will request the Wucheng government to help promote investment in India and also provide marketing support to various Indian products like pharmaceuticals, grains, fruits, etc. In recent years, Yoga and Indian movies have become increasingly popular in China.  We will also be very happy to work with the local government on promoting Yoga and Indian movies in this region.

8.     The Embassy of India in Beijing and its Consulates in Shanghai, Guangzhou and Hong Kong are committed to facilitating business and people to people relations between India and China. I am happy to inform that India has not only offered facility of electronic visas to Chinese business travelers, but also made it more liberal by making it one year multiple entry.

9.     I would like to take this opportunity to thank theDezhou/Wucheng government for the great support extended to Synthite for their current investment, with a request for continued support as may be required from time to time.

10.   I am sure that their continued proactive engagement in China will lead them to greater successes.

I wish Synthite all the very best for a bright and successful future in China.

THANK YOU.