The "Exploring Emerging Markets and Promotion of Trade and Investment in India" was held in Zhongshan on July 2. It attracted nearly 100 representatives from more than 70 well-known brand enterprises in the smart lock, smart home, intelligent home appliances and consumer electronics industries.

Zhou Hualong, Chief of the Foreign Economic Cooperation Section of the Zhongshan Bureau of Commerce, said that India was one of the key markets for Guangdong and Zhongshan enterprises to "go global." In recent years, the Indian government initiated the "Made in India" program and carried out a series of reforms at the same time. Changes included avoiding double taxation through a unified goods and services tax, building the Delhi-Mumbai Industrial Corridor, opening up to foreign investment in various fields, and allowing 100% foreign direct investment in such fields as electronics and electrical appliances, and others.

At the promotional conference, some hardware business leaders shared their experience, saying that Zhongshan caster manufacturers have created a unique brand in the Indian hardware market.

Li Youzhi, Chairman of Zhongshan Xiangrong Caster Manufacturing Co Ltd, said "many enterprises in Xiaolan Town export traditional products such as hardware to India. These products meet European and American standards, but their prices are relatively low. Therefore, they enjoy very big advantages and competitiveness in the Indian market."

Liu Bin, head of the Zhongshan branch of ICBC, said in recent years, Zhongshan enterprises have become increasingly interested in the Indian market, and the number of customers from India has increased markedly. "This is especially true in the trade industry, which is concentrated in lighting, household appliances, and daily necessities. Zhongshan enterprises' balance-of-payments trade with the Indian market has increased from over $30 million in 2017 to more than $100 million in 2018."

"India has a strong capacity for consumption. There are great investment opportunities to be found in food, electric bicycles, and other industries, " said the head of the Consulate General of India in Guangzhou, adding that India has provided a "unified service" for enterprises with investments in local industries.