India-China Current Affairs - 2019
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India has launched its third IT corridor in China. The corridor will facilitate partnerships between Indian and Chinese companies. National Association of Software and Services Companies (NASSCOM) entered into a partnership with China’s Xuzhou city from Jiangsu Province in China to help develop the IT corridor.
- IT corridor facilitates partnerships between Indian and Chinese companies by enabling Indian software and service industry associations to enter the Chinese market and seize the development opportunities in China.
- The corridor facilitates will facilitate match-making between Indian companies wanting to collaborate with companies in China looking to adopt digital transformation from verticals such as manufacturing, retail, automotive, healthcare and utilities and help them create innovative product and solutions in the co-create mode.
- The corridor will help create more jobs in China and India and facilitate talent transfer between the two countries.
- The earlier two corridors launched at Dalian and Guiyang cities has brought to fore opportunities with over 300 companies where more than 10 Indian SME companies have signed deals worth 31 Million RMB (USD 4.5 million).
- The first two corridors had enabled cooperation in co-create mode in the emerging technologies such as AI, IoT and Analytics in the Chinese market.
IT corridor project between India and China strengthens India-China Digital Cooperation by leveraging the respective strengths in hardware and software to build innovative products and solutions in Co-create mode.
Tags: Automotive • China • Dalian • Guiyang • Healthcare • India-China • IT Corridor • Jiangsu Province • Manufacturing • NASSCOM • National Association of Software and Services Companies • retail • utilities • Xuzhou
China has increased its defence budget by 7.5 per to $177.61 billion up from last year’s $165 billion. The 2019 Defence Budget of China stood at 1.19 trillion yuan (about $177.61 billion) which is three times the Indian Defence Budget.
China’s Defence Budget
- China’s Defence Budget growth rate stood at 7.6 per cent in 2016, 7 per cent in 2017 and 8.1 per cent in 2018.
- China’s defence spending at $177.61 billion makes it the highest spender on defence after the United States.
- China is equipping its People’s Liberation Army with state-of-the-art hardware, spending heavily on stealth warplanes, aircraft carriers and other weaponry.
- The Chinese government has stated that the increased spending will “strengthen military training under combat conditions, and firmly protect China’s sovereignty, security, and development interests.”
- China has also resorted to major reforms of its military, which included giving priority to expanding its navy and air force to enhance its influence abroad.
Increases Budget a Cause of Worry?
China is demonstrating a more posture towards Taipei and China is facing competing claims in the South China Sea from Vietnam, the Philippines, Brunei, Malaysia and Taiwan together with a territorial dispute with historic rival Japan in the East China Sea. Hence increased Defence Budget of China may be a precursor to a more aggressive stance against its neighbours.
China has termed the increase in the defence budget as reasonable and appropriate aimed at meeting the country’s demand in safeguarding national security and military reform with Chinese characteristics. China also argues that China’s defence budget at 1.3 per cent of the GDP is much less than major developing countries which spend two per cent GDP on their defence.
China also states that whether a country is a military threat to others or not is not determined by its increase in defence expenditure, but by the foreign and national defence policies it adopts.