Singapore: An expert on Sino-India commerce and trade legalities on Thursday said the Indian companies in China are awaiting Beijing’s decision to relax rules on foreign investors and operators. Agencies
Indian companies in China plan to ramp up their investment and increase headcount by five times in next two to three years, expert added. Over 100 Indian companies run their operations in China.
"Some of our clients have acknowledged the provincial Chinese governments' support for their businesses and are planning further expansion based on these positives," Singapore-based lawyer with Dacheng Central Chambers LLP Rahul Singh Talwar said.
Dacheng Central Chambers LLP manages commerce and trade legalities for businesses working in China, Singapore and India.
"There is a renewed confidence after the Indian Prime Minister's meeting with the Chinese President Hu Jintao at Sanya," said Talwar.
Commerce and Industry Minister, Anand Sharma has also asked the Chinese government to allow Indian companies to bid for their government contracts, especially in the Information Technology, Pharmaceuticals and Healthcare sectors.
"We are also expecting that China would change its laws on call centre services in due course, allowing foreign companies to operate such services in China.
"This will favour the Indian companies, especially given their expertise in running call centre operations of foreign countries and their presence in China," Talwar added.
While commenting on the BRICS summit being held at Sanya, he said, "All these steps are vital in taking the commerce and trade relations between China and India forward, and would lead to an increase in cross border investments."
"We also see cash-rich Chinese companies, with superior productivity compared to their Indian counterparts, working out investment strategies for the Indian market," he added.
Most of the Chinese companies are working in India through subsidiaries in Hong Kong and Singapore, Talwar informed.
Singapore: An expert on Sino-India commerce and trade legalities on Thursday said the Indian companies in China are awaiting Beijing’s decision to relax rules on foreign investors and operators.