China pledges $20 billion investment for India

Marking the opening of a new chapter in the economic relations between the two Asian neighbours, China has unveiled an investment package of around $20 billion to bolster infrastructure investment in India – a major step that will help bridge trade deficit and bring the two countries closer in an economic embrace.

The two Asian giants signed 12 agreements, including a pact for the establishment of two Chinese industrial parks in Gujarat and Maharashtra. The pacts were signed after side-ranging talks between India’s Prime Minister and China’s President Xi Jinping in New Delhi September 18.

Besides economic issues, the two leaders also focused on bolstering trust and agreed to fast-track negotiations for resolving their decades-old boundary dispute.

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Xi Jinping in Gujarat: Three pacts inked, big-ticket outcomes in Delhi

It was business from the word go. Barely hours after China’s President Xi Jinping began a three-day trip to India, the two Asian neighbours have signed three agreements, including a pact that will enable China to set up a sprawling industrial park in Gujarat.

In a special gesture, India’s Prime Minister Narendra Modi flew down to Ahmedabad to receive his Chinese guest. The two leaders sat down for informal talks September 17, following which three agreements were signed in their presence.

Pacts were signed between China Development Bank (CDB) and Industrial Extension Bureau (iNDEXTb) of the Gujarat government for the development an industrial park in India’s western state that has become a byword for modernisation and industrial development.

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Modi’s Inch’ & Miles mantra for India-China relations

INCH (India and China) and MILES (Millennium of Exceptional Synergy). This is the new Modi mantra for energising relations between India and China, the two Asian giants which are often portrayed as rivals, but have chosen to be fellow-travellers in the unfolding journey of an Asian century.

A day before China’s President Xi Jinping touches down in India to begin a three-day transformational trip, India’s Prime Minister Narendra Modi has unveiled his long-distance vision of India-China relations.

“India and China are bound by history, connected by culture, and inspired by rich traditions. Together they can create a bright future for the entire mankind,” Mr Modi said in a wide-ranging interaction with Chinese journalists a day before he meets the Chinese president in Ahamedabad, the capital of his home state Gujarat which has forged robust economic relations with China.

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