The recent reduction in the interest rate cut announced by the Chinese government (sixth in current year ) and slow down seen in the Global economy will definitely help to Indian importers and manufacturers, said Binu Pillai, Chief Operating Officer (CEO).Meorient Exhibitions Ltd, Shanghai .
“It’s a golden opportunities for the Indian importers as well as manufacturers and they should take full advantages of the situations “ , said Binu Pillai, who was on flying visit to Mumbai in connection with the proposed visit of a high level delegation comprising of 750 big and medium companies.
Giving more details of delegation, Pillai said they will show case quality plants and machineries besides home life products through China Machinery India 2015 and China Home Life India 2015, “I expect a total business of Rs 16,000 crore through these displays against Rs 8000 crore seen in 2014. It will open up a new ideas and sector for Yong Indian entreprenuers who wants to go with start up,” said Binu Pillai who travel eight countries in the world every year with similar Chinese delegations..
The exporters as well as manufacturers will come from Ningbo, Shanghai and Wenzhou provinces of China. It has been ably supported by Chinese government and India Tech Foundation (a technical trust of technology) in India . Around 70 big companies will show high end plant and machineries used in packaging, 50 cos machine tools, 150 companies Food processing equipments, 150 cos will display textiles and garments, 150 cos will put up households electrical kitchen, 100 cos building materials, 50 cos Lightings, and 50 cos furnitures etc .
A day long seminar on “Win-Win co-operation -How Chinese companies be involved with India and South Asia” has also been organized at Bombay Exhibition Center on 14th December.
Throwing more lights on current scenario, Pillai said, the Chinese manufacturers as well as exporters are aggressively looking towards the Indian market and would like to offer quality goods and plant and machineries at a bargain prices. In other words, It will be buyers’ market for Indian importers.
The Chinese exporters and manufacturers believes that the rising income of Indian middle class, higher GDP, and emergence of big e-commerce market, really going to boost up the demand for various products in the industrial as well as Home Life segments including food processing, furniture, lighting, textiles etc, Pillai added.
In fact, some of the big markets for Chinese products including Brazil, Russia, Middle East (ME) and South Africa are in problems due to various factors. Brazil is suffering for negative growth due to political turmoil, ME countries are affected by lower crude oil prices, Russia is also into negative growth rate and S Africa is not lucrative. Hence the Chinese exporters are under pressure to expand the export growth, Binu Pointed out.