Two asian giants India and China signed 26 bilateral business agreements worth USD 22 billion on Saturday at the end of Indian Prime Minister Mr. Narendra Modi’s three day visit to China.
These agreements have been signed between Indian and Chinese firms to expand the business in various sections including steel, infrastructure, renewable energy, industrial and financial parks, ports and get maximum of ‘one and one make eleven’ stance.
Namgya C. Khampa, the official of Indian Embassy in Beijing, talked about boosting both the economies and negotiate over the Tibet or Zangnan conflicts between the countries.
Indian PM, in this regard, said, “You are the factory of the world whereas we are the back office of the world”. “You give thrust on production of hardware, while India focuses on software and services”, he added.
On the other hand, China is also interested in one of the largest economies of the world – India, which is $2 trillion worth. During a visit to India by Chinese President Xi Jinping, China officially announced $20b investment over the the next five years.
When we take a look at border tension between India and China, the officials from both the countries urged on getting agreed to seek a fair resolution to solve the border issues related to South Tibet or Zangnan which is considered to be part of an Indian state, Arunachal pradesh. During the Modi’s visit to China, he received a golden statue of Budha from an abbot at the Dacien temple of Xian on the first day.
Indian groups like Adani group, Welspun, Bharti Airtel and Chinese giants like China Development Bank and Industrial and Commercial Bank of China, SEZ and Guanzhou Port Authority took major part in these investments. Modi asked the people of India-China Business Forum to take the advantage of the ‘winds of change’ in India.