It is a great pleasure to welcome you all to this business seminar dedicated to promoting India-China economic cooperation. I would like to thank the Liaoning and Shenyang CCPIT as well as CII for partnering us on this event. India's economic ties with China have expanded rapidly in the last decade. Our trade has grown from less than $3 billion to $ 74 billion last year. India is China's 8th largest export destination and China is India's number one trade partner in goods. This event has three main objectives:

1. Encourage more diversified and value added trade that plays to our strengths and assist the other partner. From China,we expect more machinery exports and infrastructure building. Indian companies,for their part, want more business in general and specialized manufacturing, IT and pharmaceuticals.

2. Strengthen networking between our companies so that we can move beyond trade to mutual investments.That requires a better appreciation of each others' markets and greatercommitment.

3. Do experience sharing inregard to both trade and investment to bring out possible problems while finding solutions.

I am confident that our discussions will help that process. We must find win-win solutions to take our ties forward. I am greatly encouraged by the meetings I had yesterday with the Liaoning Governor and the Shenyang Mayor. Thank you for your attention and letus get to work.