【New Delhi】Vice-President Mohammad Hamid Ansari today (June 26) left on a five-day visit to China where he will hold bilateral discussions with his counterpart Li Yuanchao and attend events to mark the 60th anniversary of the Panchsheel agreement.
This is the first visit of an Indian leader to China after the Narendra Modi government took over last month. It is also Ansari’s first visit to China, and the first by an Indian Vice-President since 1994. Then Vice-President Kocheril Raman Narayanan had visited China in 1994.
○India, China Sign Pact To Set Up Chinese Industrial Parks
【Beijing】India and China today signed the MOU on Cooperation on Industrial Parks India to facilitate more Chinese investment in India to compensate the ballooning trade deficit, which now average around USD 35 billion a year. The bilateral trade totalled to USD 65.47 billion last year.
On her first visit to China, Commerce Minister Nirmala Sitharaman, who is part of the delegation of Vice President Hamid Ansari, held talks with her Chinese counterpart Gao Hucheng here during which she flagged India’s concerns over the trade deficit which averaged over USD 35 billion a year and sought greater access to Indian goods and services. The two sides later signed the MOU.
○Chinese industrial parks get approval
【New Delhi】Ahead of Prime Minister Narendra Modi's meeting with Chinese President Xi Jinping on the sidelines of the BRICS (Brazil, Russia, India, China and South Africa) summit in Brazil next month, the Cabinet on Wednesday approved industrial parks to be set up in India by China.
During the fifth India-China strategic dialogue in August 2013, both sides had identified five states where the parks would be set up -Uttar Pradesh, Andhra Pradesh, Gujarat, Maharashtra and Karnataka. In October 2013, a Chinese delegation had visited potential sites in these states.
However, the plan was delayed due to resistance from some sections of the Indian industry, especially small and medium enterprises, which were apprehensive the move would give China leeway to dump goods in the market here. And, ahead of the general elections, the United Progressive Alliance government didn't want to risk proceeding with the move.
The matter was extensively discussed during the visit of Chinese foreign minister Wang Yi to India this month, when he had met the PM, as well as External Affairs Minister Sushma Swaraj, senior officials told Business Standard.
Law and telecom minister Ravi Shankar Prasad said the Cabinet had given in-principle approval to a memorandum of understanding (MoU) in this regard, adding the details of the agreement would be made public after the MoU was signed.
【News source】
Hamid Ansari embarks on China visit
India, China sign pact to set up Chinese industrial parks in India
Chinese industrial parks get approval
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