China, India sign more than $22 billion in deals: Indian embassy
116
SHANGHAI: China and India signed 26 business deals worth more than $22 billion in areas including renewable energy, ports, financing and industrial parks, an Indian embassy official said on Saturday.
Namgya C. Khampa, of the Indian Embassy in Beijing, made the remarks at the end of a three-day visit by Indian Prime Minister Narendra Modi, during which he sought to boost economic ties and quell anxiety over a border dispute between the neighbours.
“The agreements have a bilateral commercial engagement in sectors like renewable energy, industrial parks, power, steel, logistics finance and media and entertainment,” Khampa said.
At the same event, Modi encouraged Chinese companies to embrace opportunities in India in manufacturing, processing and infrastructure, announcing “now India is ready for business” with an improved regulatory environment.
“You are the 'factory of the world' whereas we are the 'back office of the world',” Modi said.
“You give thrust on production of hardware, while India focuses on software and services.” These 26 deals are in addition to 24 agreements signed on Friday between the two countries.
China is interested in opportunities in India's $2 trillion economy.
During a visit to India last year by Chinese President Xi Jinping, China announced $20 billion in investments over five years, including setting up two industrial parks.
Since then, progress has been slow, in part because of the difficulties Modi has had in getting political approval for easier land acquisition laws.
Read more
On DawnNews
Comments (116) Closed
May 16, 2015 11:59am
1 more step taken to strengthen ties between two Asian Giants.
Recommend
0
May 16, 2015 12:05pm
Good .... This could mean peace with Pakistan. Now India and Pakistan must move forward with peace ... Genuine peace ... And the Russia-China-India-Pakistan block is where the future lies.
Recommend
0
May 16, 2015 12:10pm
it wont work without other regional powers.
Recommend
0
May 16, 2015 12:11pm
Well done its almost $ 50 billion of deals sustained 8.1% growth seems very possible in next 5 yrs with around $50 billion coming from France, Japan & Germany
Recommend
0
May 16, 2015 12:14pm
@hyat pls specify "regional powers" other than India and china?
Recommend
0
May 16, 2015 12:18pm
@hyat Wow you're a genius. Which other regional power? Is there one?
Recommend
0
May 16, 2015 12:20pm
@hyat who are they....???
Recommend
0
May 16, 2015 12:21pm
CIP Union is the best for the entire region
Recommend
0
May 16, 2015 12:22pm
@hyat other regional powers....bhutan?
Recommend
0
May 16, 2015 12:24pm
$20 billion last year, $10 billion yesterday and $22 billion today. A total of $52 billion of agreements signed in a span of 6 months. Moreover, Indians IT giants will invest $9 billion in China over next 2 years. TCS and Infosys which are already working there will explore more opportunities in china and train Chinese university students to meet the global IT demands. One more thing, these are not loans but complete bilateral investments which both the countries need from each other. China has the largest exchange and India has the 8th largest. One is master in manufacturing and the second one is master in service delivery, IT and managerial skills. Awesome move by both the countries. No doubt both countries have many disputes but either side can't ignore the other one.
Recommend
0
May 16, 2015 12:26pm
@ERo where does that leave Pakistan, who will be there to support Pakistan against India when the time comes?
Recommend
0
May 16, 2015 12:29pm
@hyat .
Who are the other regional powers? I hope you are not signalling at Pakistan.
Recommend
0
May 16, 2015 12:31pm
Slow n steady but growing
Recommend
0
May 16, 2015 12:36pm
after Pakistan best of luck for India.
Recommend
0
May 16, 2015 01:12pm
@hyat May be ur talking about Bangladesh... but dnt wrry we will take care of them..
Recommend
0
May 16, 2015 01:20pm
$20 billion last year, $10 billion yesterday and $22 billion today. A total of $52 billion of agreements signed in a span of 6 months. Moreover, Indians IT giants will invest $9 billion in China over next 2 years. TCS and Infosys which are already working there will explore more opportunities in china and train Chinese university students to meet the global IT demands. One more thing, these are not loans but complete bilateral investments which both the countries need from each other. China has the largest exchange and India has the 8th largest. One is master in manufacturing and the second one is master in service delivery, IT and managerial skills. Awesome move by both the countries. No doubt both countries have many disputes but either side can't ignore the other one.
Recommend
0
May 16, 2015 01:26pm
Good development, I think differences between Asian countries nation should be finish
Recommend
0
May 16, 2015 01:45pm
China seems content with bringing forward its economic muscles everywhere, Latin America, Africa, Europe, Asia. They sealed massive energy deals with Russia last year, have pledged considérable investments in minéral deals in Africa, Brazil, Venezuela.
Recommend
0
May 16, 2015 01:45pm
@Lalit Regional powers are Pakistan, Afghanistan, Bangladesh. While India, China are Asians powers. USA is global power.
Recommend
0
May 16, 2015 01:47pm
@hyat who is other regional power?
Recommend
0
May 16, 2015 01:51pm
I think the other regional power Mr Hyat is referring to must be Japan, after all India has many economic links with Japan and Sino-Japan relation is also in a all time low, so I think he is right, because India has to deal with two great economies tactically. But apart from Japan I dont see any other regional power in Asia. Rest all the nations do not have sufficient power to light up their houses in cities for a day without any powercuts.
Recommend
0
May 16, 2015 01:52pm
$10 bn with chinese govt and $22 bn with chinese buisnessman and $20 bn in june 2014 when president XI visited india means total= $52 BN in one year only with one country just wow..........
Recommend
0
May 16, 2015 02:03pm
This $22B deal is not with chinese govt but with Chinese companies...
Recommend
0
May 16, 2015 02:08pm
The way Mr.Modi is following manufacturing sector of China, it seems he will make India another factory . But it might have some adverse effects like Pollution, already we have so much pollution . We should follow western countries in IP related manufacturing and all .
Recommend
0
May 16, 2015 02:09pm
@Sudhanshu Swami srilanka is also another regional power
Recommend
0
May 16, 2015 02:18pm
“You are the 'factory of the world' whereas we are the 'back office of the world'
This clearly say without software hardware is nothing and vice versa, with China being manufacturing powerhouse and India being Service powerhouse the combination of two is dynamic.
Recommend
0
May 16, 2015 02:25pm
This more than $22 billion is private sector deals signed in Sanghai + $10 billion govt to govt deal signed yesterday in beijing making it total to more than $32 billion with earlier Chinese commitment to invest $20 billion in India in next 5 years as part of reducing trade deficit.
Recommend
0
May 16, 2015 02:28pm
India a 2 trillion economy. But why is it also the world's largest aid reseiver?
Recommend
0
May 16, 2015 02:47pm
I think Modi's statement "You are the 'factory of the world' whereas we are the back office of the world", looks more rational, pragmatic and meaningful than that of PM Nawaz Sharif " Pak-China friendship is sweeter than sweetest honey" -but no doubt poetry is as important as prose
Recommend
0
May 16, 2015 02:53pm
can't believe China, it will play double game
Recommend
0
May 16, 2015 02:58pm
@Euro India doesn't take aid. Just for your information.
Recommend
0
May 16, 2015 03:01pm
$22 billion dollar between private sectors and $10 billion between both govt bringing it to more than $32 BILLION.
Recommend
0
May 16, 2015 03:06pm
China and india will write the future of asia. Afterall china and india are oldest civilisation of world. China has shown his interest to invest 20 Billion in india before and now again annouced 10 Billion on first day and 22 Billion on last day visit of pm modi. So the total investment in india by china is 52 Billion.
Recommend
0
May 16, 2015 03:15pm
This is between Pvt Corporations of both the Countries.
Recommend
0
May 16, 2015 03:26pm
“There is no question of going back, standing still is not an option, so moving forward is the only way ahead.”
This is what Prime Minister Narendra Modi said to Chinese Premier Li Keqiang when they sat for a closed-door meeting at the Great Hall of People Friday and discussed ties between the two countries.
Fully agree.
Epic statement by Modi.
Recommend
0
May 16, 2015 04:18pm
Thanks chaina for a clutural tie, thanks chaina to give respect and love our prime minister, thanks china to give respect our buddhism, this trade dealing give peace of asian countries and secure development.
Recommend
0
May 16, 2015 04:26pm
I love my prime minister.... modi
Recommend
0
May 16, 2015 04:28pm
@Euro I presume you meant reservoir. Right?
Recommend
0
May 16, 2015 04:30pm
Within one year of Modi, India has gone ahead of China in economic growth. This collaboration between the two nations is going to affect the world. If its cooperation we all win. if it leads to conflict then the third world war is guaranteed!
Recommend
0
May 16, 2015 04:33pm
Good For Indian People.
Recommend
0
May 16, 2015 04:39pm
20 Billion US dolor in 2014 + 10 Billion dolor yesterday + 22 Billion dolor today = 52 Billion US dolor Chinese Investment. Woof! That's a lot of FDI. China trying all its best to align India with it and not letting it align with US.
Recommend
0
May 16, 2015 05:48pm
Can those 25 crore peoples will get any benefit of this who is still lower poverty line in India
Recommend
0
May 16, 2015 05:56pm
Pakistan is going to be a super power in the near future.CSA is planning to invest heavily in Pakistan
Recommend
0
May 16, 2015 06:02pm
How many of these deals will just go into the oblivion and never materialize. Such deals are signed simply because they seemed right at the time.
Recommend
0
May 16, 2015 06:08pm
@nooru 52 To bring people out of Poverty you will need growth, confidence of investment and safety of investment for the foreign organizations. This is what India intends to give to the Chinese Orgs. This will in turn lead to upliftment of the down trodden.
Recommend
0
May 16, 2015 06:11pm
@hyat : Which other regional power?
Oh, you mean Bangladesh and Sri Lanka, yes they should be included. I am all for them.Thanks for reminding.
Recommend
0
May 16, 2015 07:24pm
@nooru 52 Those 25 crore are also part of India and when India progresses surely they will get their share. Modi is not corrupt politicians and has no family all Indians are his family.
Recommend
0
May 16, 2015 07:47pm
@KM - Not really an "epic statement". Succinct but it wasn't long.
Recommend
0
May 16, 2015 07:50pm
Its about mutual cooperation and getting most out from each other not about war and conspiracy. ...
Recommend
0
May 16, 2015 07:53pm
46 plus 22 and the winner is China..
Recommend
0
May 16, 2015 07:58pm
Thanks Mr. Narendra Modi Prime Minister of Republic of India for visiting China. You are the world best leader and speaker so I knew that you bring India at the top of the world. Love you
Recommend
0
May 16, 2015 08:01pm
Actually the back-office part is declining, with more companies bringing it back in house to the cloud.
Recommend
0
May 16, 2015 08:10pm
@khalid exactly you need to find about bogus deal signed by your govt , clearly cover majority chinese interest rather than pak . time frame 15 years as well whereas commitment with india only 5 years , do some research please lol
Recommend
0
May 16, 2015 08:15pm
@Siraj Ahmed - My dream is to see China, India, Pakistan, Bangladesh and all other regional powers develop into an " Asian-Europe " where conflict would not even be considered. Will it happen ? I hope so before I die.
Recommend
0
May 16, 2015 08:28pm
Brazil signed trade pact worth 50 bill Pakistan 46 bill India 22bil should have been more i believe China showed the couled shoulder
Recommend
0
May 16, 2015 08:31pm
@KM - Does "reservoir" make a difference to that?
Recommend
0
May 16, 2015 08:34pm
@Euro
Doesn't matter. India is also one of the world's largest defense spender. These things are not seen in black and white.
Recommend
0
May 16, 2015 08:38pm
@khalid
some of them will go into oblivion. But deals are a bit more solid than MOUs between govts. Go back and check all the MOUs that Pak signed with China govt and see how many came through.
Recommend
0
May 16, 2015 08:39pm
@M. Fiaz Riaz my PM has one skill. He never denied truth.he said you have technology and extra I have work or work force.my meaning is if you want something then first admit you haven't that thing you want.
Recommend
0
May 16, 2015 08:39pm
@nooru 52 my friend do you understand what poverty line means FYI its not a line that someone poor has on its forehead or palm. It was defined by Indian Govt to identify those who cant afford daily basic necessities n so tht help could be delivered to them..
By the way yes there r millions in India identified under that poverty line but do you know India had added millions to its middle class in last 2 decades n its middle class stands at 850 million n counting where do you think those people came from? People under the poverty line r being lifted..
N as how these agreements will help the poor. There is a simple equation. .
Investment = Production Facilities = Professional n Labour requirements = Employment generation = Jobs for poor = Money into pockets.... Make sense friend?
Recommend
0
May 16, 2015 08:49pm
@sohail Ya, every country is regional power. If any country is not a power it might have been absorbed by neighbor (Tibbet )
Recommend
0
May 16, 2015 08:49pm
@nooru 52 India doesn't have a socialist regime. It can only provide opportunities to below poverty line people to come out of poverty, not force them out of poverty.
Recommend
0
May 16, 2015 08:51pm
@nooru 52 Every thing has its own context and benefit. If anyone comments that will economic corridor eradicate polio ? Answer is no, directly it wont. But progress and positive developments should be welcomed always.
Recommend
0
May 16, 2015 09:04pm
@Pramod UK still provide aid to India. This has raised
controversy in that country. Private charities from the west
like Gates foundation, Ford foundation and many others
provide lot of necessary aid there.
Recommend
0
May 16, 2015 09:13pm
@Siraj Ahmed The increase in growth rate is due to the change
in methodology of calculating GDP. New methodology revised
growth in 2014 from 5% to 6.9%, without adding any mfg.
or service activity. Ruchir sharma of Morgan Stanley and other
economists scoffed at the revised data. India has moved ahead
by manifpulating the numbers. Again this is increase in the rate
only. China with $10 Trillion economy growing at 7% add $700Billion
in one year while India growing at 7% or estimated 7.5% add only
$140 to $150Billion. Which country is growing faster? Number
manipulation can fool some people some of the time but not all
the people all the time.
Recommend
0
May 16, 2015 09:20pm
@nooru 52 Slowly and steadily and with steely determination of Indians ably led by PM Modi, it will trickle down and surely benefits will reach the people living below poverty line. Ameen.
Recommend
0
May 16, 2015 09:43pm
@Euro again verify your source of information. but for your kind information Afganistan is the world largest aid receiver with $6725 million in 2014. also correct your information india is $2 trillion economy rather 2 Trillion
Recommend
0
May 16, 2015 10:10pm
Hope this trade will prevent war between india and china. Paksitan and India should do the same. And within Pakistan trade, economics transaction can reduce tensions.
Recommend
0
May 16, 2015 10:11pm
@nooru 52 WE can ask the same question of 40$ billion aid for Pakistan. Will it pull the poor people of Pakistan from Poverty line.
Recommend
0
May 16, 2015 10:15pm
@Sudhanshu Swami A regional power is the one who can beat the enemy in war. Do u think Bangladesh and Pakistan together can beat Vietnam ? There's no regional power as such in Asia. But I'd say Pakistan is the most know country among small regional littoral states of Asia under Indian view.
Recommend
0
May 16, 2015 10:19pm
@AKS India never aligned with anyone at front. And not ever going to be with american or China either. But can side with Russia definately when times call.
Recommend
0
May 16, 2015 10:20pm
@nooru 52 Definately. But it will take some time. When economy starts to grow. So will they.
Recommend
0
May 16, 2015 10:21pm
@khalid .. your comments are true with relevance to Pakistan.
Recommend
0
May 16, 2015 10:36pm
These kind of publicised deals will effect the common man of India only when they see a tangible increase in money in their bank accounts .So far its just advertisements of Mr Modis adventures abroad.
Recommend
0
May 16, 2015 10:38pm
@Majid Sheikh you mean after usa & eu.. now united states of Asia...
Recommend
0
May 16, 2015 10:55pm
These are just non-binding figures that will never materialise. China will never impolement them till Pakistan also joins.
Recommend
0
May 16, 2015 10:59pm
@Naseer
hahaha....I'm laughing hard on hyat's statement. I come to dawn, read the article and never forget to read the comments. :)
Recommend
0
May 16, 2015 11:00pm
@khalid You mean like the one signed for 45 billion between China and Pakistan?
Recommend
0
May 16, 2015 11:24pm
@khalid The deals you are talking about are MoUs usually. These are Business deals between Pvt Corporations of India and China. These involve more than just words. For ref- google the Corporations of both the countries involved, look into their sizes and achievements, and then tell us what you feel.
Recommend
0
May 16, 2015 11:26pm
@nooru 52
Console yourself with that happy thought...
Recommend
0
May 16, 2015 11:53pm
@hyat who is other regional power.
Recommend
0
May 17, 2015 12:29am
22 billion is not comparable to our 46 billion aid !
Recommend
0
May 17, 2015 12:30am
@Ali India is not looking to expand its territory.
Recommend
0
May 17, 2015 12:32am
@Euro Where did you get that information ? Kindly list your source.
Recommend
0
May 17, 2015 12:34am
@nooru 52 Good question, the only way people can sustainably get out of poverty is by employment.
Recommend
0
May 17, 2015 12:45am
Modi is the most loved prime minister in the history of indian politics... he is now far ahead of vajpayee & lal bahadur shastri .....
His visions are long term .... on a long run Indian will be benefited...
They is a belief and trust between the citizen and the government .... which was missing in last decade ....
there is a saying in Hindi "Maan Jeeto Jag Jeeto" and modi has done that
I am proud of Modi ....
Recommend
0
May 17, 2015 12:51am
@mimi sur : India is targeting also high tech defence industries, clean water, solar & nuclear energy etc.
Recommend
0
May 17, 2015 12:54am
@vee : In today's world business is more important than any other things. India needs investment and market for its software whereas China also need market and India is one of the biggest growing market.
Recommend
0
May 17, 2015 01:00am
@Euro : Correct your thought. Its agreement between two countries businessmen basically Chinese businessmen will do investment in India and they will off course get benefit from that. Aid is not investment where there is no return.
Recommend
0
May 17, 2015 01:19am
@Euro Please provide reference to your claim that India is the largest aid receivers.
In fact India puts conditions on donors rather than other way around. When UK tried to presurise India about defense sales citing aid given, India requested UK to stop the aid since conditional aid was unacceptable. http://www.telegraph.co.uk/news/worldnews/asia/india/9061844/India-tells-Britain-We-dont-want-your-aid.html
Recommend
0
May 17, 2015 01:34am
$22 billion is not bad for a country that almost 99.9% of Pakistanis consider as the enemy of China in their minds. No gifting of large swathes of land like Karakorum, no surrender of ports like Gwader and road network, no fighter planes escorting the president Xi, often competing in many fields all over the world, contentious border issues, yet $22B in trade is not bad.
Recommend
0
May 17, 2015 01:41am
Why does Pakistan not use the same strategy as its all weather friend China is using in relations to India to uplift its masses ? Or would it prefer to be left behind as China and India march ahead ?
Recommend
0
May 17, 2015 02:11am
For all those who does not consider Pakistan a regional player, go study a bit of International Relations. Pakistan despite of all its vulnerabilities indeed is a regional power. If you have any doubt over it, do a bit of research on the meaning of regional power. Will save us a lot of time!
Recommend
0
May 17, 2015 02:14am
10 billion agreement was done a day before so it makes as (10+22= 32 billion) plus when Chinese president had come to India recently another deal was done for 20 billion so it come as 52 billion in recent Chinese Investments...good going ..hope relations will improve even more !
Recommend
0
May 17, 2015 02:18am
@Sudarshan off course yes at the cost of new proposed indian map shown on china state tv.
Recommend
0
May 17, 2015 02:27am
@Majid Sheikh Cold war is over 25 years back my dear... There is no another cold war going to happen again in this interdependent World.
Recommend
0
May 17, 2015 02:56am
@khalid Maybe, but there are commercial interests at stake and lots of money to be made by private companies. Monkey talks.
Recommend
0
May 17, 2015 02:58am
our politician better stop playing game before China pull out of this Deal with Pakistan.
we can clearly see China want to have good Asia. I hope our politician under stand if not better step down. Also start thinking about Pakistan not self
Recommend
0
May 17, 2015 03:30am
@Pankaj Tiwari to add to what you said, the time frame is five years. The deal is way below potential for sure. The culprit is the 1962 thrashing we got in response to our immature military behaviour, and our sulk ever since. But future is an open space and much positive can be yielded...
Recommend
0
May 17, 2015 03:37am
@Euro are you referring to bilateral economic aid?? No, India doesn't take that since long. At all I mean. Please verify from open sources for the latest figures...
Recommend
0
May 17, 2015 03:40am
@nooru 52 well said brother. That's the real tough question to answer. Experimenting with models of growth is ongoing. Results awaited...
Recommend
0
May 17, 2015 03:45am
Fooling the people of India. These are just MoUs that will never materialise.
Recommend
0
May 17, 2015 05:16am
Pakistan should learn that commerce and business should not stop even if though you have disputes and border skirmishes. Also having nuclear arsenal, missiles and good army do not make any one strong country, North Korea have all those. It is the economy, education, industries health, poverty eradication and growth that make it a strong country. Religion and defence expenditure will drag you down.
Recommend
0
May 17, 2015 05:32am
@hyat Regional powers which do not have petrol and electricity, drowning under huge IMF debts, survives on foreign aid? LOL
Recommend
0
May 17, 2015 06:15am
@M. Fiaz Riaz . Check your facts. India recieves zero aid.
Recommend
0
May 17, 2015 06:39am
@Euro, please brush up your knowledge. Aid and investment are two different things.
Recommend
0
May 17, 2015 07:10am
@nooru 52 Yes Mr. Nooru, they will be benefiting and hope within next 10 years nobody will be poor, the way our PM NAMO and his team is working. He is a true Leader .
Recommend
0
May 17, 2015 07:29am
@khalid
So India-China deals are duds and Pakistan-CHina deals are genuine, is that what you are saying? Talk of licking one’s wounds sulkily...
Recommend
0
May 17, 2015 07:41am
Problem with the Pakistan is they don't have control on their Own land. US and China has their presence in sovereign country like urs they dictate terms to you and send their drones. At least Indians control India unlike urs. It's so distubibg that none have raised your voices against those acts BT u want have ur say against us?
Recommend
0
May 17, 2015 08:04am
@khalid ....So you mean you do not have confidence on China prvoding those aid to Pakistan which they signed???
Well the deals signed between India & China are majority large business deals signed between large corporations which have mutual benefits, hence most of them will see the light..
Recommend
0
May 17, 2015 08:24am
@M. Fiaz Riaz I agree. While Mr. Modi uses 21st century metaphors, Mr. Sharif prefers those from the age of Rumi and Omar Khayyam.
Recommend
0
May 17, 2015 09:09am
hi all, friendship and peace are more important than any other,....
Recommend
0
May 17, 2015 09:24am
@Ab Thats what you ppl are good at taking care off others.
Recommend
0
May 17, 2015 09:58am
Modi "...standing still is not an option..." should also be applied to India's relationship with Pakistan, which country should be next on his agenda.
Recommend
0
May 17, 2015 11:30am
Already India-Chine trade close to $100billion. This $22 billion will be much more than signed amount. India-China trade is likely to touch $500billion in next 5yrs under make in india.
USA-India trade $500billion.
Indian-Europe will be another $100billion.
India-UAE over $100-billion.
Now only missing part is India-PAK which is very less. India-PAK trade should be opened up so that both countries can benefit. People will benefit due to boom on both sides. But PAK hesitant to open up trade route.
Recommend
0
May 17, 2015 11:56am
@Yashash Dave I know, I think you didnt get my point ! My aim of comment was something indirect and different !
Recommend
0
