As the world’s largest developing countries, China and India share many similarities in development stage, population size and the demand to improve people’s well-being. Over the past years, China and India has made solid progress in technology, innovation and investment cooperation. The two countries have carried out a number of joint research projects, and witnessed an increase in technology transfers as well as transnational start-up investments. For instance, with technologies from China First Metallurgical Group Co., Ltd, Bhilai Steel Plant of Steel Authority of India managed to save 10% of its costs. Many Chinese venture capitals have invested in Indian Internet companies such as Paytm. Competitive Indian enterprises in IT, pharmacy and consultancy like Infosys and TATA have also entered Chinese market. In the Sino-Indian Software Industry Park in Linyi city, Shandong province, more than a hundred Indian software engineers work together with their Chinese counterparts. They help and learn from each other, and jointly start their businesses.
China-India technology and innovation cooperation has a bright future. A lot more could be done. With this perspective, ICEC Council organized the visit of a delegation from the Science & Technology department of Zhejiang province during the first week of June, 2018. The delegation comprised of the Deputy Director General of the department, Senior Researchers and a business delegation of 10 companies
During their visit in Delhi the delegation met with Federation of Indian Chambers of Commerce & Industry (FICCI) & Foundation for Innovation and Technology Transfer (IIT Delhi) to get an understanding on the overall economic situation of the country, technology requirements of different industries, Govt. policies towards technology transfer, Indian start-ups etc.
The delegation then visited Bangalore to meet Software Technology Parks of India to get an understanding on the software exports from India, support provided by the Govt. to the export firms, STPI functions and how they are helping Indian enterprises to enhance their business.
The deliberations and discussions between the organizations and the delegation were in-depth and focused. Many areas of cooperation and joint research emerged which needs to be taken forward by the institutions in India and China.