China and In­dia sign busi­ness deals worth more than $22bn

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China and In­dia signed deals worth more than $22bn 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 the In­dian prime min­is­ter, Naren­dra Modi, dur­ing which he sought to boost eco­nomic ties and quell anx­i­ety over a bor­der dis­pute be­tween the neigh­bours. Khampa said: “The agree­ments have a bi­lat­eral com­mer­cial en­gage­ment in sec­tors like re­new­able en­ergy, industrial parks, power, steel, lo­gis­tics fi­nance and me­dia and en­ter­tain­ment.”

China is in­ter­ested in more op­por­tu­ni­ties in In­dia’s $2tn econ­omy.

Dur­ing a visit to In­dia in 2014 by China’s pres­i­dent, Xi Jin­ping, China an­nounced $20bn in in­vest­ments over five years, in­clud­ing the estab­lish­ment of 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.

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