Chairman Yuning Yao was invited to attend the Meeting of the Sino-Indian economic and trade cooperation

Chairman Yuning Yao was invited to attend the Meeting of the Sino-Indian economic and trade cooperation holded by Indian Embassy in China and CCPIT Sichuan branch on Dec. 15. At the meeting, he  delivered a speech on Sino-Indian economic and trade, cultural. Then, he had a one to one meeting with His Excellency Ambassador Dr. S. Jaishankar, to discuss their views on  issues such as the electricity market in India, the impact of India Visas to the cooperation of Sino-Indian and so on.

The speech of Mr. Yuning Yao

Dear His Excellency Ambassador Dr. S. Jaishankar, Ladies and Gentlemen, Good morning!
First of all, I want to say thanks to Indian Embassy in China and CCPIT Sichuan branch for hosting us today. I can’t think of a more important time for us to talk about the opportunity and the challenge of China and India.
We know, both China and India are developing countries, having a long history and similar culture, making extraordinary contribution to the development of global society, playing a key role in building global prosperous. In recent years, known as the BRICs, China and India’s rapid economic development have pivotal role in overcoming the global economic crisis and promoting the economic recovery.
China is India’s second largest trading partner. India is China’s tenth largest trading partner. In Chengdu, textile products exported from India is the most popular goods in the most fashion mall, IKEA, despite that these goods are not imported by Chinese traders directly.
Since Prime Minister Singh’s China visit in 2008, Sino-India’s trade and economic relationship have been boosted markedly. By both countries’ efforts, the trade and economic relation has been expanded, from merchandise trade to project construction, from mutual investment to technical cooperation. We are excited to see that both countries reached a series of consensus, a part of which is to build a positive, cooperative and comprehensive Sino-India relationship in the 21st century.
We, Sichuan Machinery & Equipment Import &Export Co., Ltd (SCMEC), are one of the largest EPC contractors for industrial business specialized in overseas project. For more than 35 years, SCMEC performed more than 45 EPC projects around the world and enjoyed a respectable reputation, covering wild range of industrial fields, including road construction, aluminum smelter, hydro power station, thermal power station, transmission line, sub-station, tel-communication system and various industry production lines. SCMEC’s activities spread over United State of America, Canada, Peru, Indonesia, India, Syria, and Azerbaijan and so on. As the first EPC Contractor to enter the power market in India, SCMEC currently installed capacity has reached 4620MW.
Let me be clear. SCMEC can not achieve rapid development in Indian market without India’s rapid developing power market; SCMEC can not operate its business successfully without the Indian Government’s support and efforts in power industry, which is what we always highly appreciated. We believe that the cooperation in power industry between India and China would be getting closer.
At present, we notice that the quantity of India’s highly-skilled workers hardly meet the growing demands of Indian power market. It is not only because Indian booming power industry, but more importantly, because the proportion of go-abroad workers in India is much higher than Chinese. Facing with the Indian Employer’s requirement on project progress, Chinese EPC contractors have no choice but deploy their own workers from China, because they can not find sufficient workers in local market.
However, under the current VISAs policy, the number of permitted deployed workers could just meet the need of managerial staff, much lower than the demands of project construction, also slow down the project progress, and ultimately bring losses to Indian Employers. We hope someday, Mr. Ambassador and everyone here can come together, work together and find solution.
More challenge lays ahead, more hard work remains ahead. By both governments’ powerful promotion, we believe that the Sino-India economic cooperation will be getting closer and more prosperous.
Thank you!