Sino-India cos partner to develop KSEZs

NEW DELHI: Sino-India Business Alliance floated by industry body Assocham has been successful in convincing 25 Chinese companies to partner with Indian firms for developing Knowledge Special Economic Zones.

The alliance would also strive to develop Biotechnology Incubators, Hardware Technology Parks and Telecom Equipment Manufacturing facilities, a chamber release said.

The chamber has also agreed to sign an MoU with Shenzhen Computer Industry Association, Shenzhen Trade and Investment Association and Shenzhen Hitech Industrial Park.

Recently, 10 Indian companies, including Videocon had announced setting up of manufacturing facilities in China.

Sino-India bilateral trade reached $25.05 billion in 2006, representing an increase of 33.87 per cent over same period last year. During this period, Indian exports to China increased to $10.46 billion, while imports from China increased to $14.48 billion, the statement said.

China's bilateral trade with India accounted for 1.47 per cent of its global trade in year 2006, as compared to 1.32 per cent in the same period last year. India is now the 13th largest export destination of China, it added.