Kirin Crayons, the integrated marketing solutions provider to Chinese brands in India, in association with the International Advertising Association, organised a roundtable discussion titled ‘We stand with China’ to bring to light the impact of coronavirus on Indo-China bilateral trade relations.
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 a strong growth in the economic ties between the two countries with a lot of companies entering India and vice-versa. But with the recent onset of the coronavirus, there has been a significant effect on the socio-economic operations between the two countries.
Kunal Lalani, Co-Founder, Kirin Crayons and CMD of The Crayons Network, said, “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 bilateral trade worth close to 87 billion dollars is at a potential risk. As we brace for the impact of coronavirus — we stand with the people, business and brands of China”
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 focussed on the extent of the impact of coronavirus on the marketing and advertising spends of the organisations.
Singh added, “Chinese brands are intrinsic to our country’s fabric. Over 8,000 executives (who had travelled 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 roundtable was also attended by Chang Peilin, Director, Press Section, Embassy of the People’s Republic of China, Wang Lei, Second Secretary, Economic and Commercial Section, Embassy of the People’s Republic of China and Zu Jian, Attaché, Press Section, Embassy of the People’s Republic of China.
Also present were experts on the topics 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.
The discussion focused on 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.
Vivek Zhang, Co-Founder, Kirin Crayons and the former CMO, Vivo India 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 normalise it.
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 in full control by the end of April.”
The most important session of the roundtable was at the end where 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 and 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 2,000 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 and detailing comprehensive solutions to deal with various challenges presented at the meeting, including trade, bilateral relations, visas and coronavirus.