India and China on 23 September 2013 signed total of 15 Memorandum of Understanding (MoUs) in a structured process of procurement of Indian products worth value of 338 million US Dollar. The MoU was signed at the India-China Business Matchmaking Symposium for promoting exports from India to China held on 23 September 2013 in New Delhi.
The products regarding which procurement MoUs were signed include zinc concentrates and copper concentrates, cotton yarn, frozen fish/ linter, cotton and cotton yarn, menthol, castor oil and guar gum, acrylic tow, Indian granite block and cedrus deodara seed.
It is important to note that the Department of Commerce of India in co-ordination with Ministry of Commerce, People’s Republic of China is facilitating visit of an important Chinese business delegation to India to explore procurement opportunities with their Indian Counterparts companies. The local co-organiser of this is CII. The delegation is led by Jia Guoyong, Vice Director General of Trade Development Bureau, MOFCOM with representatives from 27 national level Chinese companies.
The sectoral composition of the delegation included companies from various sectors such as Textile, Infrastructure, Minerals and Metals, Chemicals, Plastics, Light Industrial Products, Aero technology, Steel, Glassware and Arts and Crafts.
From Indian side, around 60 companies from varied sectors attended the Symposium and the B2B meetings. Nearly 150 B2B interactions between Indian and Chinese enterprises were scheduled at the Symposium. The inaugural session was followed by B2B meetings between Chinese and Indian companies.