Sany Group is one of China's most successful manufacturers. (Photo : www.wantchinatimes.com)
More Chinese manufacturers are lured into setting up operations in India as these firms take advantage of their technology, equipment and capital to expand in the Indian market.
One of the companies, radial tire mold manufacturer Greatoo remarked it had already established an industrial park near Chennai in order to make its products' delivery time improve from over a month to only less than an hour.
Greatoo's senior manager Qi Shuan stated that Chinese firms possess advantages that make them more superior than local counterparts. He cited their rival's relatively poorer technology and low-caliber workers.
Another firm, Kingfa Science and Technology Co., a plastics and industrials producer, has also entered India after it bought a local firm back in 2012.
According to Bo Jingen, the general manager of its Indian unit, the country now offers massive opportunities for his sector. He cited there are still untapped areas that may help fuel growth in the said market segment.
Bo cited the modified polypropylene, which India uses in its auto industry, as an example.
The company is also seizing opportunities in India's capital markets as its Indian unit became the only Chinese-owned firm to be listed in Mumbai.
For Yan Xinhui, the Indian branch manager of the Chinese heavy machinery maker Sany Group, for a firm to successfully enter the market, it should immediately find products that will suit the Indian taste.
As part of its strategy, Sany has introduced a rental scheme for those who could not afford the purchase of its products such as concrete mixing trucks and excavators.
Additionally, Chinese home appliance maker Midea shared it is also vital to partner with local marketing firms for a wider product distribution.
Indian Prime Minister Narendra Modi has earlier launched a "Made in India" campaign to attract more foreign firms.
