Home furnishing industry of Nan’an eyes investment opportunity in India

China’s leading building materials companies explore business opportunity in India on the backdrop of Indian government’s Smart Cities Project

by Shrutee K/DNS

November 17, 2016: “The Chinese city of Nan’an, famously known as ‘Global Capital of Stones’, is keenly interested to invest in India in the home furnishing and building materials sector. Nan’an has advanced industrial clusters that produce various types of ceramic products, plumbing, kitchenware and bathware products, furniture, electronic security products, door, window and other building products. The city has trade and industry counterparts at 160 locations across Europe, the USA, and South East Asia. Nan’an is the only county-level city in China to have chambers of commerce across all provinces in the country,” said Madam Zhang XiaoHong, Deputy Mayor of Nan'an Municipal Government at an interactive meeting with officials of World Trade Centre Mumbai.

Nan'an is a county-level city in southern Fujian province of China and it falls under the administration of Quanzhou City. The deputy mayor led a business delegation comprising of top officials from China Council for the Promotion of International Trade, Nan’an Sub-council (CCPIT), The Foreign Affairs Office of Nan'an Municipal Government and companies from the home furnishing and building materials industry of Nan’an to India.

Officials of the delegation have visited India to explore investment opportunities in the country, especially in Mumbai on the backdrop of Government of India’s Smart Cities Project.

Zhang further remarked that exports and imports from Nan’an has been growing significantly with the assistance of World Trade Centres across the world. She raised hope that World Trade Centre Mumbai would facilitate trade and investment ties between Nan’an and Mumbai.  

Industrial clusters in Nan’an produce building materials that are tailor-made to meet the specific requirements of different regions. Nan’an has strong infrastructure facilities and it is part of the ancient Silk Route of China, she added.

Earlier in his welcome remarks, Mr. Vijay Kalantri, Vice Chairman of World Trade Centre Mumbai said, “China is the largest trade partner of India with a bilateral trade volume of around USD 70 billion today. There is further scope for expansion in the trade volume between both the countries across various sectors such as automobile, heavy machinery, construction materials and so on. Chinese manufacturers must consider setting up manufacturing facilities in India as the Indian government is improving the ease of doing business for foreign and domestic investors. Also, the Indian government’s ambitious programmes such as Make in India, Smart Cities, Digital India provide ample business opportunity for Chinese businessmen. Today, India is the fastest growing economy in the world with the annual growth in GDP of 7.5%. Chinese entrepreneurs must take advantage of these attractive features of the Indian economy and strengthen commercial ties with the country.”

During the event, World Trade Centre Mumbai and The People’s Government of Nan’An City, Fujian Province signed a memorandum of understanding for exchange of trade information, delegation and promotion of investment between both the countries.