Summit Viewpoint : India-China Economic and Trade Development under New Technology Conditions, Two Major Projects Will Benefit from Two-Dimensional Code Technology First
As the world's two largest emerging economies, China and India have reached a new height in economic and trade cooperation. According to data released by the Ministry of Commerce of the people’s republic of China, the bilateral trade volume between China and India increased by 20.3% in 2017, the total trade volume are reaching 84.4 billion US dollars. The data shows that China is still India's largest trade partner in 2017, while India is likely to rank among the top 10 trade partner of China. Gao Feng, the Press secretary of Ministry of Commerce of the people’s republic of China, said that China and India have highly complementary economies, which brings great potential for further mutually beneficial cooperation.
At the 2018 International Two-dimensional Code Industry Development Summit, Tian Furong, Director of the India Universal Two-dimensional Code Registration and Certification Center, delivered a keynote speech on "India-China Economic and Trade Development under New Technology Conditions". According to her speech, "India has always been attractive to foreign investors. Force, so many foreign companies now have set up factories in India. In 2025, Indian manufacturing output will reach 4.8 trillion US dollars."
When talking about India-China trade, Ms. Tian Furong, as one of the founders of the India-China Economic and Cultural Promotion Association, said she was fortunate to participate in the promotion and witness the rapid development of India-China trade. She said: "In early 2005, friends in Mumbai, India were still very strange to China, but by 2008, China has become India's largest trading partner. It is easy to see that the speed of development is quite amazing."
The bilateral trade volume between China and India has reached 84.4 billion US dollars. India's main products for export to China are cotton, gemstones, precious metals, ores, organic chemicals, salt, machinery, plastics, and leather. China exports to India includes electronic products, machinery, organic chemicals, fertilizers, steel, plastics, iron, and gemstones, ships, medical relevant products and technical equipment.
With the rapid development of India-China trade, issues involving credit, counterfeiting and inferiority in international trade have become increasingly prominent. Director Tian Furong believes that to a certain extent these issues will affect the high-quality development of India-China trade. This year's the film of "I am not a drug god" made the Chinese people realize that India's generic drugs are cheap and effective, and China has released its imitations of Indian generic drugs. However, because of drug safety, it's a matter of life and safety. At the Indian-China Pharmaceutical Business Seminar held in August, 2018, the China Chamber of Commerce for Import& Export of Medicines& Health Products (short for CCCM Help) proposed to achieve traceability of medicines and health products, the source and destination of drugs must be traceable, and the whole process must be traceable.
Therefore, in November of last year, the China- India Economic and Cultural Promotion Association reached a strategic partnership with the Unified Two-Dimensional Code Registration Management Center (UTC Global), hoping to promote the development of standards formulation and application of Indian Two-dimensional Code identification coding technology and industrial application, to make positive contributions to the exchange of China-India import and export trade and global trade circulation and commodity traceability, and escort the high-quality development of China-India trade. After one year’s preparation, the India Universal Two-dimensional Code Registration and Certification Center was already established in India, and the two-dimensional code standard public service platform was officially launched in India in September, 2018.
The India Universal Two-dimensional Code Registration and Certification Center will promote China-India economic cooperation based on the international IDcode standard system from education and training, standards development, certification, establishment of digital centers, national identification nodes and two-dimensional code-related demonstration projects. Among them, the first and most important areas are the two traceability projects of cotton and medicine.
India Universal Two-dimensional Code Registration and Certification Center will continue to expand the two-dimensional code technology to other fields, such as ticketing, daily life, exhibitions, marketing and so on.
