c





  
 
 

 


 
 
 
  
   



 

  
 
 

    


 
 

 


  

  
 
    

 
   

 



 !
   "
#
   


   

    
   
  

  


   
  


  
 
 

 ! 

   
 ! 
 









!     
 
   #  

  
 


! ! 

$    
 

      
 
  
 


 
  

Another is joint participation in projects in both countries, e.g., for aluminium. China itself is
guarded about FDI in strategic sectors, so such ventures will require significant efforts and
accommodation from both countries.

Although more opportune several years ago, it is still possible that there is scope for an
aluminium smelting joint venture in India because of the availability of bauxite, coupled with
back-to-back joint ventures in India and China for finished products.

The potential benefits to Indian companies such as Nalco are access to substantial capital for
expansion, as well as increased access to markets.

A Chinese partner like Chinalco would also gain significantly by access to its share of low-
cost raw materials as well as to a more diversified market, in return providing access to
Chinese and international markets to its Indian partner.

% 







    
  
   &

While breakthroughs in information and communications technology (ICT) with India may
be more difficult in the near term, because of mutual wariness as well as the need for
complex structuring, mainstream ventures in sectors like steel, aluminium, copper and energy
(oil and gas, coal) may be more easily structured and executed, provided there is mutual (a)
reciprocity and (b) transparency.

In this, our decision-making and delivery processes must keep up with the required pace. This
major change in approach between the two countries, open reciprocity with no game-playing,
and in India's own methods, are necessary conditions for major commercial developments
that lead to optimal economic engagement.
ither potential areas for participative ventures could include logistics and transportation,
including airlines and freight/shipping.

While the possibilities are open-ended, the actual unfolding of promising pathways may
require success with simpler 'asset-plays' like metals or energy projects, to establish what is
pragmatic and feasible. These could provide substance to what is currently just talk of a
strategic partnership with China.