Beijing: Over 20 Indian firms are taking part in the ‘India-China Business and Investment Forum’ being held in China aimed at introducing latest investment opportunities under ‘Make in India’ campaign to their Chinese counterparts.
The week-long event in Wuxi city included India Culture Week celebrations which kicked off on Sunday. The Indian firms would be introducing the latest investment opportunities in India in sectors like renewable energies, solar panels, roads, smart cities, infrastructure development, urban transportation and power sector, which are now available to Chinese companies under the ‘Make in India’ programme.
A series of B2B meetings have also been planned for participating Indian companies with their Chinese counterparts, Consul General of India in Shanghai, Prakash Gupta said. A cultural performance from a Bhangra/Gidda troupe from India sponsored by Indian Council for Cultural Relations (ICCR) gave a performance at the South China University Campus. In addition, an Indian Food Festival is also being held.
India is a very attractive market with high brand recognition for a computer hardware producer like HP, said HP Inc’s President for Asia Pacific and Japan, Tian Chong Ng.
The Asia Pacific region — in which India is a key focus area — has been the fastest growing for HP and provided 16 per cent revenue growth last year.
In Q1 of FY2019 it registered 8 per cent growth year-on-year, said Ng in the course of the HP Reinvent 2019 conference, the company’s largest global partner event.
One reason for that is — India – and also the Asia Pacific region — tick marks on demographics trends which provide clear wins for HP: rapid urbanisation and more millennials are joining the work force.
While HP is very positive on India and recognises its potential, there are no plans yet for setting up a manufacturing base in India. Ng said it already has a manufacturing base in China apart from others in Vietnam, Thailand and Japan.
“There is an existing ecosystem in China and we don’t have plans for setting up a manufacturing base in India, he said.
One focus area is the 3D printer, which offers HP great opportunity. Construction and automotive sectors are the focus areas here. Meanwhile, an MoU has been signed with the Andhra Pradesh government.
“To be successful in India demands that we understand it,” he said.
HP is also pushing gaming in a big way. However, this has not led to any thinking for manufacturing mobile phones in India, despite the high number of gamers in the country spurred by affordable android phones and cheap data.
“Our strength is the PC business and we offer a whole family of products in that space,” Ng said. (IANS)