China is going to be Big Market for Indian Handmade Carpets

India Carpet Expo at Varanasi has witnessed the overwhelming presence of 350 overseas buyers, in addition to 276 buying representatives, in the first three days.


A delegation from Yiwu city of China visited the India Carpet Expo on 13th October, 2015 on an invitation from CEPC. Mr. Wang Bi Rong, Director General Bureau of Commerce led the delegation of eight members to study the qualities of Indian handmade carpets displayed by 303 exporters from all over India.

 

The delegation from CEPC was led by Shri Kuldeep R. Wattal, Chairman, CEPC, accompanied by all Members of Committee of Administration of the Council.  A presentation was made about the economy and market position of the Yiwu City, by Mr. Wang Bi Rong.  

The Chinese delegation was very excited to visit the Expo and informed that they witnessed a very high quality in Indian handmade carpets, which they did not find in China. The delegation was confident that the Indian handmade carpets would get a very good sales response in Yiwu City. 

They informed that after the Expo, they will discuss with CEPC in arriving at a Memorandum of Understanding (MoU) for promoting and selling Indian handmade carpets in Yiwu. CEPC Chairman, Shri Kuldeep R. Wattal expressed hope that such collaborations would give a boost to exports of Indian carpets to China. 

While thanking CEPC for hosting them and giving them an insight into Indian handmade carpets industry, Mr. Rong, the Director General, expressed the desire to have a strong representation of Indian Handmade Carpet Exporters in Yiwu City in their May 2016 show. Chairman, CEPC appreciated the efforts of the delegation in making Indian carpets popular in China; he also assured them that the industry is looking forward to China as a  whole and Yiwu City in particular,  adding that China will be one of their major business partner countries in coming times.

Shri Ravinder Jaiswal, MLA, Varanasi also visited India Carpet Expo and saw the arrangement and facilities available at the fair ground.  He met the participating exhibitors also and appreciated the new developments made by the Indian carpet manufacturers. 

He met overseas buyers and Chinese delegation as well and assured the carpet exporters and CEPC that he will apprise Hon’ble Prime Minister Shri Narendra Modi of the efforts made by Carpet Export Promotion Council in providing excellent infrastructure to the manufacturers from Varanasi-Bhadohi-Mirzapur belt in promoting Indian carpets and helping the artisans and weavers of this area.

Some of the leading and reputed buyers from US, U.K., Brazil, South Africa and other European countries who visited the fair spoke very encouragingly about the display of various handmade carpets, floor coverings and arrangements made by the organizers. 

Organizers are extremely happy with the results till today and hope that more and more buyers will come on the last day of the Expo as well, on 14th October, 2015, and make this Expo a very successful one. 

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No Idea Why China's Army defy LAC

India did not seek explanation to China over the incursion by the People’s Liberation Army in Ladakh during the visit of External Affairs Minister Salman Khurshid to China.

On Thursday, Khurshid discussed with his counterpart Wang Yi in China and expressed satisfaction over the bi-lateral talks between India and China.

Interestingly, Khurshid told media that“it is not clear why it happened.”

It is not clear that what was purpose behind fixing tents inside Indian border by the Chinese army and why they did withdraw from there.

India should not reach to any conclusion that peace restored between the two nations since army tents were withdrawn from India border, rather it should keep option open for further dialogues to avoid any further threat from China.

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Future of Sino-Indian relations?

What is the feature of Sino-Indian relations? Tension between China and India at peak following entry of China's military into Indian territory.

According to media reports, military for China entered into 10 km Ladhak region violating the border rules. However, the China on Thursday said that that the country did not break any rule along the border.


Amid the high tension between the duo Asian countries, the External Affairs Minister of India Salman Khurshid to visit China on May 9.

Khurshid would have dialogue with his counterparts in China over the border dispute and updates. 

Considering the recent issues along the border, it could be considered that the high tension along the Indo-China border to weigh high on the Sino-Indian relationship. 
 

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China celebrates New Year: the Year of the Snake

The people of Republic of China have been celebrating the New Year today and it festival time there, people are greeting one another with joy.

This new year as considered as the Year of the Snake 2013, as usually their year bases on some themes. The current years theme is based on serpents. People will celebrate their new year for around fortnight.

During this celebration they offer prayers at temples and watch Dragon dances across the country.

On business point of view, this year there would more demand for snakes for various usage. Snakes have been used for medicinal purposes too. Since the year fall on the theme, business community there there would boom in the sale of snakes in China.

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BRICS to boost Trading in Local Currencies

Business News: During the fourth summit of BRICS Counties - Brazil, Russia, India, China and South Africa in New Delhi, the member countries have signed two currency pacts that would boost the trading in local currency.

The countries have also expressed their concern over the excess liquidity in the domestic market dampening the hopes of the retain investors and tumbling the stock markets.

The major five countries have been discussing various issues including the global financial crisis in New Delhi. The member countries have reportedly agreed for setting up South-South Development bank, funded by BRICS.

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Agricultural Bank of China to sell a 15% stake

The Beijing- based Agricultural Bank of China Limited (ABC) will sell a 15% stake i.e 22.235 billion shares in Shanghai and 25.411 billion shares in Hong Kong. ABC is one of the four biggest banks in China and it will come out with the world’s largest initial public offerings in Shanghai and Hong Kong.

In the year 2006 China’s biggest bank the Industrial & Commercial Bank of China raised $21.9 billion but now ABC is going to break this record by raising $30 billion in world’s biggest IPO.

According to the prospectus of Agricultural Bank it had 320 million customers and 23,624 outlets in China at the end of last year but the prospectus did not give a price range for the share sale.

It has been reported by some of the media institutions that ABC has not disclosed its issue price. There is a hike in the bank’s profit by 26 percent to 65 billion yuan ($9.5 billion) in 2009 and it is expected that the net income will rise to at least 82.9 billion yuan this year. This forecasting has been done by some media experts by referring the bank statements.

Agricultural Bank, China’s fourth-largest by assets is now in tough competition with its rivals, ICBC, the Bank of China and China Construction Bank in Shanghai and Hong Kong. It is now aiming to achieve its expected profit.

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China To Set Up Independent Satellite Navigation System by 2012

China is on its way to set up Independent Satellite Navigation System after US and Russia. According to media reports, China is developing a Beidou satellite navigation system, after successful of its process, China will be ranked as third country for having own Independent Satellite Navigation after US and Russia. It is expected to be completed by 2012.

At present China is having three navigation satellites and comparing to that India possesses none. It is reported that the satellite navigation system – Beidou will focus on storm, earthquake and disaster rescue operation, which will be advantage to detect the calamities before hand, Similarly the NAVSTAR GPS in US helps the defence to locate and hit the terrorist hidden in remote areas. Thus, China is going to face tough competition with Russia’s Glonass system. Even Europe is entering with it’s own Galileo system.

So, China has decided to establish it’s own satellite navigation system by 2012 covering the Asia-Pacific region. The local government are also ready to give a helping hand in financing the project.

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China and India are similar nations with contrasting ways

The comparison of two Asian giants – India and China would be an interesting to know. The two countries are waving the signal of growing economies in the world. India economy aims to touch its double digit GDP rate but sad reached dual digit in inflation recently.

The GDP was at impressive rate at 9 per cent during 2005-06. Despite huge population, China has managed to maintain the double digit GDP rate, which is enough to foretell shine of the economy. The two nations are receiving good FDI which in turns gives a positive impact to the economy. The boom in IT sector in India made this into a favorable destination for investors.

But China is ahead in terms of attracting FDI than India. The China is very strong in the field of manufacturing sector. The geopolitical aspects of these two nations are the factor determines the peace. Some times investors face constrains with Indian slow policies, where as the fast implementation in China is advantage of it.

The population living in poverty in India is high in comparison to the China. Certainly, the China economy is ahead of India, but it could be expected that India economy would touch fastest growth in near future.

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