Shanghai, May 16: Twenty six pacts worth $22 billion were signed between the businesses of India and China Saturday, the major ones accounted for by the Adani and Bharti groups, coinciding with Prime Minister Narendra Modi’s visit here.
The pacts were signed against the backdrop of Modi calling upon Chinese companies, at a meeting of the India-China Business Forum here, to invest in India and seize, what he termed as a ‘‘historic opportunity’’ awaiting them across the vast border.
Besides some noted captains of India Inc, the Who’s Who of the Chinese industry was also present in good number at the packed event, including the chairs of Huwawei, Dongfang Eletric, Hareon, Shanghai Urban Construction, Baosteel, Alibaba, Trina, Chint, Saic Motor and Shanghai Media.
In his speech, the prime minister recalled the visit of President Xi Jinping to India and said it had provided the backdrop to renew the partnership between the two sides, notably in the business space, while hoping to see it grow in the years to come.
‘‘I have lot of hope from the relationship which President Xi and I are trying to build. During his visit to India in September 2014, Chinese investments worth $20 billion were committed,” the prime minister said.
‘‘We signed 12 agreements covering industrial parks, railways, credit, leasing, with cumulative investment of $13 billion,’’ the prime minister added even as more than double such deals – in numbers and quantum – were lined up during his visit to China’s commercial capital.
‘‘We are very keen to develop the sectors where China is strong. We need your involvement. The scope and potential, the breadth and the length of infrastructure and related developments is very huge in India,’’ he said. IANS
