India expects to expand its trade partnership with China in areas such as software and information technology, pharmaceuticals, steel and certain categories of automobiles, Prakash Gupta, the consul general of India, said yesterday.
He also said if India and China continue to maintain their growth for the next three decades, then not only will both nations be among the world's biggest economies, but also that their bilateral economic and commercial relationship will become the most important one in global terms.
Gupta made the remarks during the two-day Doing Business in India forum that opened yesterday in Shanghai. The forum aims to strengthen the India-China partnership and help Chinese entrepreneurs to invest and expand trade with India.
"There are many commodities in which India has a comparative advantage in the world market and where our two countries could benefit from expansion and diversification," said Gupta.
"Even if there are similar sectors where both countries have comparative advantages, within these sectors, advantages vary in the sub-sectors. We can convert competition into new opportunities for cooperation through intra-industrial trade in niche markets."
Gupta also listed cement, healthcare, auto spare parts, tyres, machinery and equipment, chemicals, plastics, marine products, processed fruits, leather and precious stones as India's strong sectors.
(Shanghai Daily December 5, 2007)