China’s latest manufacturing campaign 'Made in China 2025' can be aligned with India’s 'Make in India' initiative, Chinese ambassador to India Le Yucheng said.
While China needs to move out of some industries because of over-capacity, India needs technology, Chinese capital and Chinese industrial capacity, he added.
Chinese billionaire Wang Jianlin, head of the Dalian Wanda real estate group, plans to invest between $5 to 10 billion in industrial parks in India.
During his visit to India earlier this month, when he met Prime Minister Narendra Modi and chief ministers of different states, Jianlin was flown over Maharashtra to scout for possible sites for industrial parks in the state.
The plan is ambitious but “very feasible”, Le said.
He, however, added that India needs to show more interest in attracting Chinese state-owned enterprises, by showing more efficiency and less bureaucracy.
China has links of practical cooperation with many countries, but too little with India, the ambassador said at the opening of the new route for Indian pilgrims to Kailash-Mansarovar. For example, he said, while China has over 90 inter-governmental mechanisms with the US to sort out issues, with India, the number is around a dozen.
“Like Modi met Wang Jialin, he needs to meet leaders from state-owned enterprises. China attaches great importance to our cooperation, to our relations,” Le said.