Getting instrumental in relations..! Amid the trade concerns, Amb Misri anticipates India-China trade to cross $100 bn

New Delhi, June 7: “Bilateral trade between India and China is set to cross $ 100 billion this year”, India's Ambassador to Beijing said while inaugurating an Indian oleoresin extraction firm's 3rd manufacturing facility in the country to expand its business in the Chinese food market.

 

Kochi based Synthite Industries at Wucheng county in Dezhou in Shandong province, is said to be the world's largest producer of value added spices and extracts. Indian Ambassador to China Vikram Misri at the event said that the informal summit between the Prime Minister Narendra Modi and President Xi Jinping in Wuhan last year was a milestone and has been instrumental in taking our relations to a new height.

 

He said the economic and commercial engagement between India and China constitutes a major component of the bilateral relations with bilateral trade, which crossed $95 billion last year, is set to cross $100 billion this year.

"Chinese investment in India and Indian investment in China have also seen robust growth in recent years. Chinese companies like Xiaomi, Haier, Oppo, etc, have become household names in India. I am also proud to inform that there are around 125 Indian companies operating in mainland China in various sectors like information technology, manufacturing, textiles, food processing," he said.

 

Synthite's new facility in Dezhou is intended to cater to its growing demand for their various products across the food, beverage and healthcare segments globally. “From a humble beginning of starting with pepper oleoresin in 1972 the company came a long way fast expanding footprints in India, China and in a number of other countries in the world”, he signed off.