Madhav Nalapat, an Indian scholar at the Department of Geopolitics and International Relations at Manipal University in India, said, "Wherever India and China compete, both lose. But when China and India work together, both can gain."
He feels India is a perfect market for Chinese telecommunication and infrastructure systems, while India can sell to China information technology, pharmaceuticals, and can benefit from Chinese tourists.
The prolonged global economic slowdown has weakened external demand for China and India.
Zhang Zhiwei, Nomura Securities chief economist in China, predicted China’s economic growth may drop to 7.5 percent in the second quarter from 7.7 percent in the first, dragged down by sudden falls in exports to 4 percent from 18.4 percent in the first three months and with imports dropping to 8 percent from 8.3 percent.
Nomura Securities economists Sonal Varma and Aman Mohunta predicted slower growth for exports and imports in India this year compared with 2012, in view of continued sluggish demand in external markets.
Xu Changchun, an international economics expert from the China Center for International Economic Exchanges, a government think tank, said tightened China-India trade cooperation is expected to accelerate economic growth in both countries.
University doors open for its security guards
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