China, India becoming trading partners

Specialty Fabrics Review | August 2009

When Tata Consultancy Services, a worldwide firm providing IT, business solutions and outsourcing services, set up a development center in Hangzhou, China, Indian workers asked for—and got—an Indian vegetarian restaurant. Historically, China and India have disputed over the common border, but are moving into a new phase as both lose U.S. and European market share. Auto manufacturing, textiles and chemicals appear to be industries in which the two nations can collaborate. Bilateral trade between India and China is currently valued at approximately $38 million, and could rise to $157 billion by 2020, according to investment banker Goldman Sachs.

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