Prime Minister of India - Dr. Manmohan Singh

PM calls for increased economic engagement between India and China

Shortly after his arrival in Beijing, Prime Minister Dr. Manmohan Singh met representatives of Indian business accompanying the Prime Minister on his visit to China. Led by the two business associates, CII and FICCI, the delegation of business leaders appraised the Prime Minister on recent trends in bilateral trade and investment flows. They drew attention both to the opportunities and to challenges faced by Indian business in China.

After listening to their statements and observations, the Prime Minister called for increased economic engagement between India and China. He urged Indian business leaders to study China and to identify opportunities for business and greater engagement. Dr. Singh observed that a large part of the thinking in India about China is shaped by western views of China, and that there is need for greater investment in India in a better understanding of the processes of change in China.

The Prime Minister said, "The rise of China and India should be viewed as an 'international public good' by the global community, since it offers new opportunities to sustain global growth. At a time when there are concerns about a global economic slowdown, China and India can sustain global growth through their own development."

Dr. Singh added, "It is a historic necessity for the two great neighbours to work together. There will be areas of competition, and there will be areas for cooperation. There is enough space in the world for both countries to continue to grow and address the developmental aspirations of their peoples."

Urging Indian business to "think big", the Prime Minister said, "Indian business is ready to face the brave new world of globalization. China is an important part of that brave new world. We must engage China and learn to both compete and cooperate."