As part of its regular activities towards promoting India-China economic cooperation, ICEC Council hosted a high level delegation from one of the top developers from China, JC Group. The delegation was led by Ms. Hong Hong, International Relations Expert and comprised of senior officials from the company.
JC Group is a comprehensive modern city development group. The group’s headquarter is in China with branch offices in over 60 cities throughout 8 countries and regions. JC Group operates in different sectors like city management, wealth management, school & higher education, medical & health services, hotel, real estate, agriculture related products, restaurant, smart appliances, culture & tourism and other business sectors. JC Group currently owns 6 private accredited equity funds, 1 fund sales company, 5 public companies, and over 10,000 employees worldwide.
As of May 2017, 59 JC eco cities around China have been signed and are under construction for a total worth of over 57 billion Yuan of programs were signed with the government. The current total asset of JC Group is nearly 50 billion USD, total revenue is nearly 7 billion USD, and the amount of paid tax is 1.2 billion USD.
The main objective of the delegation’s visit was to understand the economic situation in India and know more about the business/investment opportunities in infrastructure sector.
Towards this, ICEC Council and Invest India jointly organized a meeting at Invest India office at Vigyan Bhawan, New Delhi.
The delegation shared the vision of JC Group and expressed their interest in investing in India as it is a fast-growing economy with immense opportunities. This was followed with a presentation by Invest India where its representatives Mr. Divay Pranav, Assistant Vice President and Ms. Sanchi Padia briefly explained about the support provided by the Indian government for foreign investors with special focus on the opportunities available in real estate and infrastructure projects in India.
Following this, a representative of the Investment Team gave a presentation about the Delhi-Mumbai Industrial Corridor project and the opportunities accessible for investors as the plan aims to develop several new cities along the corridor. Ms. Nimisha Kumar, DGM from Mahindra & Mahindra also elaborated with the example of the on-going project at Chennai about the potential investment opportunities at Mahindra World City projects in India.
During the discussion hour, there was great synergy between the JC Group, Invest India and Mahindra World City. All the teams agreed on their similar vision of creating a holistic urbanization plan which included support to aspects of residential buildings, commercial complexes, educational and social structures such as schools, banks and hospitals as well as innovation centers that would generate jobs and provide support for start-ups.
ICEC proposed that JC Group should look to collaborate with already established local Indian corporations as Indian corporations can provide further assistance in terms of market research and survey, networking, registrations etc., which would help Chinese companies to become more efficient and save their time.
The meeting adjourned with the teams agreeing to arrange field trips to their respective countries in cities which have completed or on-going infrastructure projects to get a better understanding of the prospects ahead