【New Delhi】The expectation of a $100-billion Chinese investment in India got reduced on the 18th of September as the country committed itself to investing only $20 billion here over five years.
While India reveled at the fact that the Chinese promised to invest $20 billion in five years, everyone was left wondering what happened to the missing $80 billion. Apparently, ahead of the visit, Chinese embassy officials briefed Indian scholars that investment promised would be $100 billion. How this figure came down to $20 billion is a mystery, these scholars confessed.
The issue of border tension between India and China also came up during Chinese President Xi Jinping’s meeting with Prime Minister Narendra Modi, on the second day of the former’s maiden visit to the country. Modi, though, did not harp much on the issue of defining the line of actual control (LAC) and incursions as strongly as was expected, a top official in the know of what transpired behind closed doors told Business Standard.
○Xi visit: why is industry deafeningly silent?
【New Delhi】Industry chambers have remained conspicuously quiet during and about Chinese President Xi Jinping’s visit.
Industry bodies such as Confederation of Indian Industry (CII), Federation of Indian Chambers of Commerce and Industry (FICCI) and Assocham are usually very vocal about their views and expectations during visits of foreign heads of state.
According to the people in the know, one reason could be that the Chinese President has not addressed a joint business session. “Typically, all heads of state meet and address industry chambers in a joint business session. There was nothing of that sort this time,” the person told BusinessLine. Industry bodies have also taken an anti-China stance in their studies and reports in the past.
○President Xi's India visit: India, China sign 3 pacts
【AHMEDABAD】India and China on the 17th September signed three-Gujarat specific pacts shortly after Chinese President Xi Jinping commenced his three-day visit to the country from the home state of Prime Minister Narendra Modi.
The three pacts include making Guangzhou city in China and Ahmedabad as sister cities, setting up of industrial parks in this state and an agreement between Guangdong province and the Gujarat government for development of cultural and social ties between the two provinces, officials said.
The agreement, aimed at developing industrial parks, was signed between China Development Bank (CDB) and Industrial Extension Bureau (iNDEXTb) of Gujarat Government. It envisages promoting the bilateral trade and setting up of industrial parks in the state, especially for electronics and electrical goods.
【News source】
China dashes $100-bn hope, to invest $20 bn over 5 years
The curious case of China's $100 bn investment
Xi visit: why is industry deafeningly silent?
President Xi's India visit: India, China sign 3 pacts
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