Chinese industrial parks to be set up in India
At a meeting in New Delhi earlier this week, the Union Government gave an in-principle approval to the signing of an MoU which will pave the way for setting up of Chinese industrial parks in India.
According to the information shared by Jagat Shah, Secretary-General of the China India Trade and Investment Centre (CITIC), the proposal for setting up of Chinese industrial parks in India was put forth by the Union Government to the authorities in Beijing.
Both India and China had previously identified five states – Uttar Pradesh, Andhra Pradesh, Gujarat, Maharashtra, and Karnataka – in which Chinese industrial parks will come up.
About the idea behind setting up Chinese parks in India, Shah said that the move will enable China – which has become India’s biggest trading partner in the ongoing fiscal – to come up with its industrial parks in India in areas of its strengths.
In the same way, India would also get an opportunity to set up industrial parks in China, in some of its areas of strength such as IT and pharmaceuticals.
Meanwhile, along with its participation in establishing industrial parks in India, China is also keen on making investments in India, particularly in automotive, electronics, tourism, manufacturing, and agro-processing sectors.
Source – The Hindu Business Line
China India Trade and Investment Centre, Chinese industrial parks in India, CITIC, Jagat Shah, Secretary-General of the China India Trade and Investment Centre, Union government
