【New Delhi】China on the 18th of September pledged to invest $20 billion in India over the next five years and remove barriers for Indian exporters of value-added items like pharmaceuticals and processed food to Chinese markets.
India and China signed 13 agreements here on Thursday as Prime Minister Narendra Modi and Chinese President Xi Jinping called for speeding up the boundary resolution process.
On the second day of Chinese President Xi Jinping’s visit to India, the two countries, together home to over a third of the world’s population, also agreed to a five-year plan to boost their trade relations, now tilted heavily in favour of China.
China’s investment plan comes close on the heels of Japan’s Prime Minister Shinzo Abe, during Prime Minister Narendra Modi’s recent visit to that country, pledging to spend $35 billion in India over five years.
○Japan may pip China in high-speed rail race
【New Delhi】Superior technology and their experience in safety and signalling give Japanese firms an edge over the Chinese, who might have pitched strongly to become the technology partner for the coming Rs 63,000-crore high-speed rail project between Mumbai and Ahmedabad, according to officials in the railway ministry.
Despite being cheaper, the Chinese technology is not the preferred option. Senior railway officials say besides technology, the Japan International Cooperation Agency (JICA) is likely to fund the high-speed project. Officials said there was no formal movement on Chinese financing for the Mumbai-Ahmedabad corridor though China could look at funding future corridors.
○Chinese, Malaysian cos to rescue highway projects
【New Delhi】India is looking at Chinese and Malaysian infrastructure companies to rescue highway projects that failed to find any takers in the country.
The Nitin Gadkari-led road transport and highways ministry has initiated talks with some companies to get them to bid for projects including the eastern peripheral expressway and Delhi-Meerut highway in fresh tenders.
【News source】
Shinzo Abe $35 bn, Xi Jinping $20 bn
Modi talks tough on Ladakh incursions
China to open doors wider for Indian goods
China to invest $20 bn in India in next five years
Japan may pip China in high-speed rail race
Government looking at Chinese and Malaysian infrastructure companies to rescue highway projects
Free download of "The Origin of Christianity"
Readers' Voice
Your Comments
SEAnewsFacebook
SEAnewsGoogle