CEOs reactions to Indo-China talks varied

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CEOs reactions to Indo-China talks varied

Besides setting ambitious trade targets, Indian and Chinese governments also need to focus on the smaller stuff that actually drives investment. CNBC-TV18 has a report on Chinese President Hu Jintao's historic visit to Mumbai.

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Excerpts from Power Breakfast on CNBC-TV18 Watch the full show » RELATED NEWS Need to improve Indo-China trade structure: Hu Jintao India, China agree to increase co-operation, strategic ties India-China FTA being contemplated Chinese President Hu Jintao to arrive in Delhi today Xenitis in JV with China's Guangzhou Motors Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news Dr Reddys Laboratories | Tata Consultancy Services | Tata Motors |

Besides setting ambitious trade targets, Indian and Chinese governments also need to focus on the smaller stuff that actually drives investment. CNBC-TV18 has a report on Chinese President Hu Jintao's historic visit to Mumbai.

Indian and Chinese CEOs in one room could be a sight to shake the confidence of most developed economies. India and China however prefer talking about lofty bi-lateral trade targets rather than fixing the problems hampering investment flows.

Amit Mitra, Secretary General of FICCI says, "We are very disappointed with the investment flows. You cannot have economic relationship between two countries where trade is 75 billion and investment is 100 million."

CEO and MD of TCS , S Ramadorai says, "We need policy clarity, legal framework, negotiation in English, and a policy framework to support it."

Meanwhile, Dr Anji Reddy of Dr Reddy's Laboratories complains there is no reciprocity between the Indian and Chinese pharma regulators. There is also a hefty USD 350,000 registration fee for pharma firms in China, and CEOs on both sides had similar stories to tell.

Ravi Kant, MD of Tata Motors says, "There is a fairly restrictive auto policy in China which requires companies to have very substantial investments. It requires minimum setting up of capacity."

From the Chinese front, Huang Tianwen President, Sinosteel Corp says, "An iron ore committee is establishing in India a future iron ore export policy. And I would be happier to see a positive export policy."

President of CII, R Seshasayee, says, "There is certainly an issue. Not so much because there is a worry about IPR. It's an issue because we need to understand how we approach and protect each other's rights."

Nonetheless, Ashok Leyland is headed to China and Sinosteel is already doing feasibility studies on setting up manufacturing facilities here. Maybe the two governments could work harder on keeping that momentum going.