China And India Sign Agreements Valued At $22 Billion

May 18, 2015

china-indiaIndian Prime Minister Narendra Modi visit to China has appeared to be a successful one as both countries have signed 21 business agreements estimated to be around $22 billion.

Modi’s visit came at a time when both countries were sparring over territory with China claiming that India is occupying a part of South Tibet or Zangnan. India has taken a tough stance stating that China was imposing itself in Arunachal Pradesh and trying to claim territory that belongs to India.

Those concerns took a back seat as Chinese President Xi Jinping and Modi stated that both countries were capable of reaching a sensible decision that would further strengthen ties. Modi signed business agreements with a number of Chinese companies encouraging them to invest and set up operations in India. Modi with me 22 top Chinese CEO’s in Shanghai and pitched them his ‘Made In India’ speech.

In a statement, Modi said “I have lot of hope from the relationship which I and President Xi are trying to build. During his visit to India in September 2014, Chinese investments worth $20 billion were committed. We signed 12 agreements covering industrial parks, railways, credit and leasing, with cumulative amount of investments of 13 billion US Dollars. We are very keen to develop the sectors where China is strong. We need your involvement. The scope and potential, the breadth and length of infrastructure and related developments is very huge in India”.

Modi closed his meeting with the CEO’s by promising to personally invest his time to see these agreements come to fruition and benefit both countries.