Business Standard: January 24, 2017
Chennai: Hehigher, a leading Chinese rubber equipment manufacturer, is seeking investment opportunities in India. Chinese companies look to Vietnam for such tie-ups due to ease of doing business, however, Hehigher is looking for partnerships, joint ventures and even a processing facility in India. India’s natural rubber plantations have attracted other Chinese companies, apart from Hehigher. At least four other Chinese rubber equipment manufacturers that were part of a 70-member delegation at the India Rubber Expo 2017 are looking at India.
“India is a promising market with big opportunities as automobile ownership is growing rapidly,” said Wang Shuyun, general manager, Hehigher Rubber & Plastic Equipment Manufacturing.
Jie Yubin, vice-director of the China National Chemical Information Centre, who led the delegation to the expo, said Chinese firms were looking at India, Thailand and Vietnam to get around their country’s shortage of natural rubber. The companies were looking at setting up processing facilities in India, besides supplying equipment and additives, and research and development, he added. Jie said this model was recently tried out by a few Chinese companies in Vietnam.
However, Vinod T Simon, executive director, Simmco Rubber & Plastic, who attended the expo, said there was no question of exporting rubber from India because the country was facing a deficit. He said Chinese and Indian companies could collaborate over equipment and knowhow.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.