Financial Daily from THE HINDU group of publications
Thursday, Nov 06, 2003
Financial Daily from THE HINDU group of publications Thursday, Nov 06, 2003 |
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Industry & Economy
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Economy What makes the Chinese tick? Our Correspondent
Madurai , Nov. 5 CHINA is an attraction to everyone these days, in India. Despite similarities, how is it that it could achieve so much economically, while India, in spite of its perceived strength is stumbling, is a question in discussion at every level. A visit to China is acquiring a pilgrimage status for the trade and industry associations. What is the outcome of such a visit? What did such people find there? Three small industrialists from Madurai who were part of a delegation that visited China recently to study the functioning of trade and industry associations, shared their impressions with the press here in a meeting here recently. Their visit to China between October 10 and 20 was as members of an `India Study Mission', sponsored by ZDH-SEQUA, a federation of small industry associations, from Germany. Two industry associations from Tamil Nadu, the Madurai District Tiny And Small Industries Association (Maditssia) and Tamil Nadu Plastic Manufacturers Association (TAPMA) had representation along with associations from Karnataka and Andhra Pradesh According to Mr K. Ramachandran, President, Maditssia, China is a market geared economy functioning under a determined government, resolute bureaucracy and committed working class with a sense of dedication to make their economy surge ahead fast. The scenario has been propelled by lower power tariff, cheap labour and industry - friendly legislations. The government has provided world-class infrastructure, comparable to western standards, that attracts both investors and tourists. Industry associations are always consulted and decisions are taken only with their concurrence in respect of growth of small and medium enterprises (SMEs). The associations impart training to members, extend financial help and render service as marketing channels. Ninety-three per cent of industries are SMEs and 50 per cent of them are in the service sector.
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