India, China can complement each other to become global leaders: Diplomat

CHANDIGARH: India and China need a strategic alliance to woo business into each other's country and together can complement one another to become global leaders, a Chinese official said on Saturday.

Penng Gang, Economic and Commercial Counselor, Chinese Embassy in India, invited Indian entrepreneurs for doing business in China during a seminar organised by CII here and described China as the "world factory" and India as the "world office", a CII release issued here said.

"The infrastructural development in China along with Indian skilled-English speaking brain power can make the two countries as partners and achieve growth in foreign trade," Gang said.

He urged the governments of both sides to provide necessary preferential policies and create better investment environment for foreign investors, to attract more FDIs and create huge employment.

Stating that China is committed to stimulate the trade, Gang asserted to join hands towards the new trade target of USD 100 billion by the year 2015.

He also explained the need of strengthening the financial exchanges between the two countries.

"The Indian commercial banks have set up more than 10 branches in China and similarly, National Development bank of China (NDBC) and Industrial and Commercial Bank of China (ICBC) have also set up their businesses in India," he added.