Study Tour of Chinese Finance Companies to India

As part of their endeavor in promoting India-China cooperation, ICEC Council organized the visit of a high level delegation of 16 Chinese Mutual Fund companies to India in April, 2016. The visit was organized  in association with Capvision PBSE_1artners (Shanghai) Co. Ltd., a leInvestment Promotion Division, Ministry of Foreign Affairs_2ading financial consulting firm based in Shanghai. The delegation comprised of fund managers from top asset management/mutual fund companies like Pingan, Yinhua, Full Goal, Dacheng, Guotou and a few more. Collectively the fund managers managed funds of over $200 Billion. It was their first visit to India to explore the possibilities of investing in India and be part of its projected growth story. The key sectors of interest were infrastructure, Information Technology, Telecom and Pharma.

ICEC facilitated all the interactions so that the investors could get a holistic sense of the investment scenario in India. The journey started with a meeting with Mr. Nagaraj Naidu, Director of Investment and Trade Promotion, Ministry of External Affairs. He gave an overview of the investment climate in India and a sense of the big ticket reforms the new government has initiated. He also spoke about how India hoped to achieve the 7-9% growth rate projected. This was followed by two very critical meetings for the Chinese investors to understand the Regulatory framework, Compliance issues and Tax regime in India with Securities and Exchange Board of India (SEBI) and Bombay Stock Exchange (BSE). Armed with this knowledge ICEC then organized interactions with three private investment bodies Indian Private Equity and Venture Capital Association (IVCA), Horizon Consulting and Bombay Chambers of Commerce. These were very interactive sessions with lots of questions on registration, tax, documentation, creating of India Fund, repatriation of funds etc.

It was now time to meet industry leaders in the key sectors and learn about their projections, ROIs and future projects. The Chinese investors had very good sessioWipro_2ns with Infrastructure Leasing & Financial Services (ILFS), MBL infrastructure, Dr. Lal Path labs, Infosys, Wipro and TCS. ICEC also organized a session with the Karnataka IT Secretary and her team for an overall understanding of the government’s vision of investing in Karnataka.

The fund managers are now in the process of reviewing all the information and knowledge they received during this trip and we hope that this will start Chinese investments in India’s secondary markets.