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Journalism of Courage
8216;8216;THE Chinese have a new saying: If you can do something today, why not do it yesterday,8217;8217; says Gurpal Singh, CII8217;s head of China affairs, summing up India Inc8217;s prospects in China. 8216;8216;They are planning 200 years into the future, not for a decade or two like us.8217;8217;
China8217;s mega cities, mega malls, mega power projects, mega highways and mega commitments have suddenly transformed the country into a land of opportunities for the service sector. CII, which has led 19 business missions to the country since September 2004, however, suggests that India Inc focus on China8217;s weaknesses 8212;and not just its strengths8212;to grab a slice of its 1.13 trillion trade pie.
But even the Infosys top brass are awed by China. Says Nandan Nilekani, CEO, Infosys, 8216;8216;Beijing is preparing for the 2008 Olympics, and the budget I heard mentioned for its upgradation was over 20 billion. That should give you an idea of China.8217;8217;
At the Shanghai-Pudong centre, ITSCo, Nilekani says, has bridged the gap that separates most Indian firms from North Asian markets with a mix of Indian and Chinese-origin executives; China has emerged as a hub for Infosys8217; South East Asian business.
India ranks 12th among all countries that China does business with, by exchanging 13.6 billion in 2004, up from 338 million in 1992. 8216;8216;The new trade target for 2008 is 20 billion, but it can be 50 billion if we explore China8217;s weak links8212;healthcare, insurance, banking, IT-enabled services, biotechnology and youth development among them,8217;8217; Singh says.
Incidentally, India Inc8217;s foray into China began with two healthcare companies in the late 1990s. Today, though a number of firms, including TCS, setting up China subsidiaries, the feeling is that India is still only snapping at China8217;s heels.
8216;8216;I was in China for 10 days and I committed to Nasscom that I would build a similar vision, a similar strategy for India,8217;8217; says BPO entrepreneur and ex-CMD of Wipro BPO, Jerry Rao.
