China’s president likely to sign major investment deals
In a sign of increasing the economic and investment ties between New Delhi and Beijing, China’s president Xi Jinping, who is scheduled to start his India visit from September 17, is likely to sign major investment deals in industrial parks, infrastructure, energy and railways sectors. Chinese embassy officials in New Delhi said, Xi is expected to announce a substantial amount of investments in India.
They said that Beijing could scale up India investments. China is also asking India to hand over certain railway corridors for it to build, develop and maintain high-speed railway lines. Accompanied by a large business delegation of 135 Chinese CEOs, Xi is set to announce two industrial parks, one each in Gujarat and Maharashtra, to begin a host of manufacturing and energy units.
The investments are aimed at addressing India’s concern of mounting trade deficit, which averaged $35 billion in the total $66.4 billion trade last year. India is asking China to open its market for Indian IT and pharmaceuticals sectors, besides stepping up investments to compensate for the trade deficit.
Source: The Financial Express
Energy, industrial parks, Infrastructure, investment deals, major investment deals, Xi Jinping
