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| Indian PM proposes stronger Sino－Indian business ties |
| CCTV.COM 2003-06-27 08:06:24 |
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Indian Prime Minister Atal Bihari Vajpayee is in Shanghai, the last leg of his six－day official visit to China. On Thursday, the Prime Minister called for stronger commercial ties between India and China during his speech at an IT summit.
Setting aside political issues, Vajpayee on Thursday delivered a speech addressing the vast potential for business opportunities between the two countries.
Vajpayee said, "China is one of the world's leaders in computer hardware. Chinese IT industry achieved a total volume of 25 billion dollars last year in hardware alone. What is perhaps less well－known is Chinese software industry which has been surging ahead. China is the third largest market in the world of personal computers and is expected to be in the second position. "
The Indian Prime Minister also highlighted that India, well known for its software industry, exported software products and services grossing 10 billion US dollars in 2002, accounting for 20 percent of India's total exports. India's top four software manufacturers and exporters have all opened branches of R&D centers in Shanghai.
"India companies working here not only because they are looking at domestic Chinese market, but they also believe that the Chinese development centers will help them tap into multi－national markets here as well as Japanese and Korea in north Asian market. So I think there is great impetus for investment in China, " the Indian Prime Minister said.
More than 500 participants are going home in a hopeful mood. While details for cooperation have all yet to be set, the presence of the Indian Prime Minister at the summit was a strong sign of the strengthening relationship in the IT sector between India and China.
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Editor: Xiao Wei CCTV.com
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