Indian, Chinese Businessmen Sign Mous Worth Over $2.4 Billion
Facebook Twitter google+ RSS Feed

Indian, Chinese Businessmen Sign Mous Worth Over $2.4 Billion

Thursday, 27 November 2014, 10:02 Hrs
43
cmt right
41
Comment Right
61
cmt right
10
cmt right
Printer Print Email Email


NEW DELHI: Businessmen from India and China signed memorandum of understanding (MoUs) worth $2.4 billion (about Rs 14,800 crore), which includes projects like $1.5-billion India International Trade Centre in Gujarat.



A 100-member strong business delegation from China, including Alibaba's billionaire founder Jack Ma, exchanged ideas with their Indian counterparts on how the two countries could further widen and deepen their economic engagement.



The meeting was organised by industry body FICCI in partnership with Zhejiang Federation of Industry and Commerce and support of the Embassy of the People's Republic of China.



"MoUs worth over $2.4 billion were signed at the conference. Amongst the MoUs signed today, the biggest is between Kunlun Chuangyuan Investment Co (Zhejiang) and Kiri Infrastructure (India) for the project 'India International Trade Center in Gujarat' worth $1500 million," FICCI said in a release.



By collaborating on the two sectors, there was a scope for advanced manufacturing and the two nations could penetrate the world market with the unique mix, Secretary in the Department of Industrial Policy and Promotion (DIPP), Amitabh Kant, said.



At present, India faces a trade deficit, which is an unsustainable situation and cannot continue for long. With an open up business environment, Chinese companies should invest and set up businesses in India to bridge the trade deficit, Kant said.



Alibaba Executive Chairman Jack Ma, who captured world stage with the record-breaking $25 billion IPO of the e-commerce powerhouse at NYSE, said Indo-China business cooperation had a lot of potential.



FICCI President Sidharth Birla said: "We are happy that China has acknowledged that trade deficit is a matter of concern to us; our five year trade and economic cooperation pact is geared to addressing this."



READ MORE: SIT To Submit Second Report On Black Money By November End and Modi Proposes Special Facility For Funding SAARC Infra Projects


Source: PTI
Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Philips
Sr. Executive
ISB
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
NIC
Reena Khanna
Founder
Solitaireworld
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset
SPOTLIGHT