The main areas of co-operations could be connectivity, both air and road. K P V Nair, chairman, Asia Centre said the governor of Yunnan province has assured direct flights to India. |
Umang Kanoria, president-elect ICC said, in 1990, trade volume between China and India which stood at $260 million has now reached $13.6 billion in 2004, up by 79 per cent over the total trade volume of 2003. |
He added, India enjoyed a trade surplus of $1.75 billion. If growth remained at current levels, India-China trade could cross $17 billion by end of the current fiscal. |
In contrast, India's trade with the United States has grown by just over 23 per cent in April-August 2004. For China, India has emerged among the top 10 Asian trading partners for the the first time. |
"The Chinese prowess in manufacturing and India's strength in the knowledge sector has created a synergy, which can indeed be a formidable force to reckon with" said Kanoria. |
ICC also proposed that West Bengal should be given a nodal role by the Union government so that the concept of sub-regional cooperation gained maximum currency. Beijing allowed Yunnan to take the leadership role in the Kunming Initiative. |
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