Industry hopes for a rapid resurrection post-Coronavirus crisis

NEW DELHI: India and China’s history of Bilateral Trade and cooperation goes back a long way and has been steadily growing over the past decade. There has been strong growth in the economic ties between the two countries with a lot of companies entering India and vice-versa.

However, with the recent onset of the Coronavirus, there has been a significant impact on the socio-economic operations between the two countries.

Looking at the importance of the situation and to bring to light the current Bilateral Trade scenario between India and China, Kirin Crayons, the leaders in providing integrated marketing solutions for Chinese brands to prosper in India in association with the International Advertising Association organized a roundtable discussion ‘WE STAND WITH CHINA’ in New Delhi on Friday.

The China Council for the Promotion of International Trade (CCPIT), Chamber of Chinese Enterprises in India (CCEI), India China Economic & Cultural Council (ICEC), along with several Chinese Brands in India came together to take part in the roundtable, to discuss the current scenario, the challenges and the future outlook of trade between the 2 countries.

Kunal Lalani, Co-Founder, Kirin Crayons & CMD of The Crayons Network, welcomed the guests and set the context off the discussion. “Kirin Crayon’s is India’s first and only Sino – Indian integrated marketing platform. Today there is an uneasy calm prevailing across businesses in India and China as close to 87 Billion Dollars worth of Bilateral Trade is at potential risk. As we brace for the impact of Coronavirus – We stand with the people, business and brands of China”

Post the introduction, Sukrit Singh, Co-Founder, Kirin Crayons spoke about the Indo-China Brand Story and its future. He also highlighted the need to stand in solidarity with China in its battle against Coronavirus.

Looking at the multitude of Chinese Brands in India, the discussion also focused on the extent of impact due to Coronavirus on the Marketing & Advertising spends of the organizations.

Sukrit Singh added “Chinese brands are intrinsic to our country’s fabric. Over 8000 executives (who had traveled for Chinese New Year) are stuck in China. This will have a domino effect not only on the brand and media industry but the economy at large”.

The discussion was also graced by experts like Harris Liu, Chief Representative of China Council for the Promotion of International Trade (CCPIT), Prof. Srikant Kodapally, Chairman of East Asian Studies at Jawaharlal Nehru University, Saqib, Chairman, India China Economic and Cultural Council and Alen Wang, Chairman, Chamber of Chinese Enterprise in India and Saibal Dasgupta, Author of Running with the Dragon,

During the discussion, many topics like the Historical Significance of Indo-China Relations, the Growth in Bilateral Trade, the Impact of COVID-19 and the Resurrection post the current Coronavirus crisis, were discussed.

Vivek Zhang, Co-Founder, Kirin Crayons & the former CMO, Vivo India & Mr. Mohommad Saquib, Chairman, India China Economic and Cultural Council, who were also present at the roundtable spoke about the on-ground reality in China, Dispelling Misconceptions about Coronavirus and how the Government has taken control of the situation and is making efforts to normalize it.

Vivek Zhang said over video call “This week most Chinese companies have re-started. The Leader of the National Health Commission has assured us the situation will be under full control by the end of April.”

The most important session of the roundtable was at the end where Mr. Harris Liu, Chief Representative CCPIT spoke about the support extended by the Indian Government, the update on the current COVID-9 situation and the situation in the near future.

Alen Wang, Chairman, Chamber of Chinese Enterprises in India, a major stakeholder in Indo-China Bilateral Relations & Trade spoke extensively about the relations between the two countries, the trade, challenges, etc.

Wang said, “According to estimated statistics from our chamber, till now only 2000 people of enterprises are staying in India and the losses to Chinese companies’ is over 50 Million Dollars and we believe the loss is still increasing.”

The roundtable concluded with all participants discussing, deliberating & detailing comprehensive solutions to deal with various challenges presented at the meeting, including Trade, Bilateral Relations, Visas and Coronavirus.