Over 50 firms representing a cross-section of Indian industry are taking part in the fourth "Made in India" show here Saturday to coincide with the year of friendship declared by the two countries.
The show was inaugurated by India's Science and Technology Minister Kapil Sibal in the presence of India's envoy Nalin Surie.
"Bilateral trade between the two countries is on the rise with India's total trade with China touching $18.7 billion this year. The Made in India show will help and expand the trade basket between India and China," Sibal said.
"Today the world is driven by high quality and low cost products which are core areas of expertise for India and China respectively, thus cooperation betwen the two countries will be a win-win situation for both China and India," Sibal said.
The show, organised by the Confederation of Indian Industry (CII), seeks to increase India's competitiveness in world markets and showcase Indian industry's goods, services and technologies to the world.
The events include business seminars, besides portraying the rich Indian cultural heritage, exhibited through cultural events and food festivals.
"Made in India show is the perfect platform for the Chinese government and the Chinese industry to get a snapshot of the opportunities India has to offer," R. Seshasayee, president of CII, said at the inauguration.
"It is eminently possible to attain the bilateral trade targets set by the prime ministers of the two countries in 2005, which is trade volume of $20 billion by 2008 and $30 billion by 2010," he added.
Sibal said India and China, together with member countries of the Association of Southeast Asian Nations (ASEAN), make up for more than half the world's population and represent a market with huge potential.
"Economic cooperation not only benefits the economy but also brings the people of the two countries closer. In the last few years, the two countries have moved from competing in the global arena towards cooperation and collaboration."
Coinciding with the show, a 12-member delegation of leading Indian entrepreneurs and chief executives is also in Beijing to give a push to the "India Everywhere" campaign that has had similar roadshows in several other countries.
Ahead of the show's opening, India and China signed a pact Friday to strengthen cooperation in science and technology that calls for a joint steering committee at the ministerial level to prepare a road map for action in three months.
The new pact will also review existing agreements and arrangements already in place between the two countries and to strengthen those that are going on and reactivate others that have not been fully utilised, officials said.