Cabinet approves India-China pact on investment
Thursday, 16 November 2006, 20:30 IST
Printer Print Email Email
New Delhi: The cabinet approved the signing of a bilateral investment promotion and protection agreement between India and China during the four-day visit of Chinese President Hu Jintao that begins Nov 20. "The agreement will increase the investment between India and China. It will be in force for a period of 10 years," Information and Broadcasting Minister Priya Ranjan Dasmunsi told reporters after a cabinet meeting chaired by Prime Minister Manmohan Singh. Expanding bilateral trade and investment is one of the major focus areas of Hu's visit. Several trade-related agreements are expected to be signed between the two of the world's fastest growing economies. Bilateral trade is steadily growing and is expected to touch $20 billion soon.
Source: IANS
siliconindia