 20 years after liberalization, the Indian economy has grown to become one of the largest in the world. Since the turn of this century, India has achieved a consistent 8% growth, becoming one of the most attractive business destinations. While earlier it was global corporations from Europe and the United States, today Chinese companies are coming in to do business in India. They know that with a 1.2 billion population, India is the second largest market in the world today. Growing very fast in the past decade. Indian market quite helped us to expand the business all over the world. In one word, I think the future is very bright. India is the second fastest economy in the world today. And several sectors have been opened up for private enterprises to help meet the rising demands. Infrastructure is seen as a key area for achieving high growth. Given their experience on mega projects, Chinese companies have a good understanding of this business. SAMI Group manufactures construction equipment. It believes that investment in infrastructure is going to increase manifold in the near future. The Indian government has decided to invest 10,000 billion US dollars in the next few years. In all construction projects, the government has made a great decision. The second aspect is the development of the market and the real needs of the market. India is as advanced as China in the past few years. But it is not as advanced as India is in the present. There are more and more people who need to move to the city to share some of the existing resources, such as education, medical care and employment. So in the future, I think in the next 10 to 20 years, the Indian market will still be provided with such a huge urbanization rate to build a huge foundation for the market. A distinct advantage India offers global companies is a large pool of technically skilled workforce. This convinced SAMI to set up a new factory in India rather than importing their machines from China. At this facility, the company is able to make products to specifications that their Indian customers need at lower costs. Local workers join hands with their Chinese counterparts to deliver world-class machines that are needed for projects all over the country. The Indian automotive market is one of the fastest growing in the world today. The country has emerged as a regional manufacturing hub for the international automobile giants. Yap has been the leader in automobile field tanks in China. So when they were looking to expand, India was the ideal choice. Entry into India was very systematic, very timely and fairly economical. You approach a single window to get all your clearances to put up a plant. The system is very efficient and it was done very smoothly. So setting up the plant was with fair amount of ease both from the construction site and approvals and permissions from various bodies and government departments. So I think this gave a lot of confidence to Yap to enter India and they felt that yes, business could happen in a fairly smooth manner. One of the challenges of entering a new market is that one is not experienced about the local business culture. Yap decided to partner with an Indian company to create Yap Zoom. This synergy worked since the local partner had a better understanding of the challenges in the market while Yap brought in the latest technology. The first factory is already profitable and based on this experience, Yap is now planning to set up more facilities in other parts of the country. While India had been self-sufficient in steel earlier, rapid growth in infrastructure projects has meant a huge jump in demand for steel products. The government of India has opened up the mining and steel industry for experienced global players. Many Chinese companies have set up facilities in India to help meet this gap in supply and demand of steel. In 2006, when we went to India to conduct a survey, we found that India's market was very good. First of all, India has a similar population to China. Secondly, India's steel industry is very rich in resources. It is one of the three largest steel companies in the world. In addition, India's steel industry and China are developing rapidly. It is not as fast as China. In 2006, India's steel production was 5,000 to 6,000 tons. However, China's steel production reached 500 million to 600 million. Therefore, as one of the founders of the steel industry, we found that India's steel industry was a very good market. Therefore, we decided to invest in India and cooperate with China's steel industry. One of the apprehensions that global companies start with is that projects take a long time to take off in India due to communication problems and differences in work culture. Ex-India face no such issues at this steel plant. Chinese personnel working within technicians have been able to start production at this plant within a year sticking to their timeline. We hope that this teamwork will help the company grow in India in the coming decades. Chinese companies are finding success not just in core industries but also in new technologies. Huawei, the world leader in telecom equipment, was one of the earliest entrants into India. It has been a partner in the telecom growth providing cutting-edge technology to mobile companies in India. Huawei's journey in India started as early as decades ago when we established our first and largest IND center outside China in Bangalore in 1999, which currently employs more than 2,000 technical, professional and manager staff there. And over the years, Huawei India has been developed into the second-largest single-country operation for Huawei Global only next to China with more than 6,000 employees and 90% of which are local high. With India reaching 800 million telecom subscribers, there is a huge potential in this sector. 3G and 4G services are on the anvil and the telecom companies can see the opportunity in this market. We can see in the next 2 to 3 years the barrier network of operators has to be improved or we say modernised to carry more traffic just because of the subscribers will take more we use more traffic throughput so this could help us to bring our innovative barrier network solution to the operators. Emboldened by the success of these companies, the government of China is encouraging more Chinese enterprises to come to India. For Chinese investors, many sectors in India such as machinery and electronic products manufacturing, infrastructure construction, telecommunications, power and water supply, automobile, mythology, pharmaceutical industry, financial and non-financial services so on and so forth contain very large or very huge opportunities. And coupled with robust domestic demand, a growing middle class and young population make India an attractive investment destination. The success of these enterprises in India in the last decade has shown that Chinese companies can do business here since they have experience in working in a large market like China. India can benefit from the experience and technological know-how that these companies bring into the country. This is a partnership whose journey has just begun. We hope this will deepen as India and China continue to increase cooperation in the coming decade.