Caution alert to SMEs on biz with Chinese firms
Advisory from Indian embassy advises SMEs to take certain precautions before doing any business with Chinese companies in China
Trade Transparency:
- Indian cos told to write to Indian Embassy
- Officials will respond within 5 days
- For large transactions, it’s recommended to consult a business service company
- Keep copies of Chinese ID, passport of promoters in China
New Delhi: Indian embassy in Beijing has issued an advisory asking Indian small and medium enterprises (SMEs) to take certain precautions before doing any business with Chinese companies in China.
The advisory states that these precautions are needed as the Embassy has regularly come across several problems faced by Indian companies doing business with Chinese entities in China.
The advisory recommends that before doing business with any Chinese entity, Indian companies write to the Indian Embassy (com.beijing@mea.gov.in, ccom.beijing@mea.gov.in) or Indian Consulates at Shanghai (hoc.shanghai@mea.gov.in), Guangzhou (com.guangzhou@mea.gov.in) and Hong Kong (commerce.hongkong@mea.gov.in) to verify the credentials of the entity. The respective Mission will respond in 4-5 working days.