In a move to facilitate trade between India and China and strengthen economic ties, India has organised a 2-day major business conference in Shanghai on August 18-19, 2010. The event follows the recently concluded Indian campaign ‘Ticket to Bollywood’, a series of shows which aimed to popularise Indian culture in the neighbouring country. On the sidelines of this event, Indian Embassy officials conducted numerous business seminars to promote Indian products in the Chinese market.

Significantly, the sectors which were under focus in the seminars are some of the most SME-concentrated sectors such as IT, pharmaceuticals, engineering services and agro products. This development holds great importance for SMEs, especially in these sectors, which might be looking to foray into the Chinese market.

Incidentally, bilateral trade between India and China, which jumped from US$3 billion in 2000 to US$52 billion in 2008, is expected to touch US$60 billion this year.

Earlier, in May this year, border trade was initiated between the two countries through Nathula in Sikkim, to increase trade between the two countries.