PTI
Beijing, Nov 19: Indian businesses are making a beeline to China, attracted by its quality infrastructure, investor-friendly polices, low-cost operations, huge domestic market as well as the potential to tap neighbouring Southeast Asian and global markets.
Larsen & Toubro (L&T), India's top engineering and construction company is one of the major success stories that Indian Inc. Has achieved in China.
L&T has opened its first overseas electrical manufacturing plant in Wuxi, a booming east Chinese city in Jiangsu Province to manufacture low voltage switchgear.
L&T (Wuxi) Electric Company Limited (LTW), the wholly-owned subsidiary plans to invest 11 million US dollars in the state-of-the-art plant and introduce new products as well, Chairman of LTW and whole-time Director of L&T, R N Mukhija said.
"I feel inspired and charged every time I come to this great land, I re-invent China. And, I travel back home rethinking on our roadmap for further development of our relations," Mukhija told PTI while acknowledging the all-round support offered by the Government of Wuxi in setting up operations and completing the construction work earlier than planned.
Another major achievement is that of AVT Natural Products Ltd. (AVT NPL), which is the first Indian company to successfully tap China's huge agriculture sector and set up a marigold plantation and processing unit for export.
The Kochi-based AVT NPL plans to invest two to three million US dollars in China to set up a de-hydration plant, which is a part of the processing of marigold," Managing Director of AVT NPL, M S A Kumar said.