CRI听力:Auto Industry to Benefit from the China India Co-op Enhancing

Bilateral trade between China and India came in at 74 billion US dollars last year.

The two emerging economies are setting ambitious goals for the immediate future and have given their respective automobile industries the floor in order to enhance business ties.

Dr. Jaishankar, Indian Ambassador to China stresses the importance of enhancing such ties now.

"If the BRIC's economy is slowing down that doesn't mean there's no case for India and China to do business. In fact, there are cases we should do more business with each other because when economies are slowing down it is more important to lower cost and more important to be efficient. In the last 3 years, I see Chinese investment interest in India growing not coming down."

Although the EU and the US remain China's major trading partners, India ranks as China's seventh largest export destination and ninth largest import destination.

Mr. Gopalakrishnan, President of the Confederation of Indian Industry, says that more attention must be paid towards opening up more opportunities and combining the two countries' competitive edges.

"China and India represent one third of the population and growing economic power, the per capita income is growing in both countries. As it grows the consumption also grows. And that's the opportunity. Now how can we make it into a win-win relationship? We can make this consumption model better. For example when you look at a car, we should be investing in energy efficient cars, alternate fuels and taking a leapfrog in technology. And this is again where China and India can work together. Because China has significant knowledge in the manufacturing, design on the hardware side and India has the knowledge on the software side."

Liao Xin, Head of Marketing at Infosys Technologies agrees on the trend.

"This isn't an option. You have to integrate IT with the manufacturing, the hardware. If you consider IT as the software, you have to combine. There's no use for you to have a computer without an application, the same. Nowadays, every car is like a moving computer."

The current auto parts expo will provide a platform through which companies can interact and explore new areas of cooperation.

Liao Xin is confident on the outlook of the auto parts industry.

"It's a huge market. Auto parts are not just a simple concept or it is just not the one component. Look at how many parts a car has. Basically a car is comprised with all the auto parts. Most car companies nowadays are just assembly lines. They assemble things sourced from different channels, some of them from say Germany, some of them from within China or India."

For CRI, This is Wei Tong.