Bilateral ties: India, China agree on foreign secretaries-level dialogue

Source: The Hindu Business Line, Aug 15, 2016

New Delhi: With less than a month to go before Prime Ministers of India and China are expected to meet post the NSG fiasco, the two countries have decided to set up a dialogue mechanism at the level of the foreign secretaries for the first time.

The decision to set up a new mechanism at the level of foreign secretaries was taken during a meeting between External Affairs Minister Sushma Swaraj and Chinese Foreign Minister Wang Yi, who was on a three-day visit to India.

“A new mechanism at the level of Foreign Secretaries agreed to discuss ties. It’s a new mechanism so earlier mechanisms remain,” said an official who was present in the talks.

The Foreign Secretary-level talks will be a new mechanism that will encompass all bilateral issues between both countries. This will be over and above the Strategic Economic Dialogue (SED) that both sides already have in place, sources told BusinessLine.

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Chinese companies plan big investment across sectors in India

index.jpgSource: The Economic Times, May 26, 2016

GUANGZHOU: China is poised to make huge investments in the coming months across sectors including the Narendra Modi government’s flagship projects from smart cities to Digital India as President Pranab Mukherjee on Wednesday nudged the Chinese leadership and business honchos to take advantage of prevailing growth rate in South Asia’s biggest country. Read the rest of this entry »

China SMEs plan to invest $1 billion across Indian states

NEW DELHI: Hoping to give a leg up to the Chinese investments in India, small and medium-sized enterprises (SMEs) from China are planning to invest $1 billion across various states in sectors ranging from telecommunications to electrical equipment to appliance manufacturing and machinery as part of President Xi Jinping’s announcement in 2014 of investing $20 billion in India in five years.

While there was a decline of Chinese investments in India in 2015, Beijing is hoping to increase the quantum of its foreign direct investment (FDI) in India in the current year to boost economic partnership, notwithstanding differences over strategic issues including Pak-based terror. Ahead of what can be described as a China week, with the defence minister and NSA travelling to Beijing and External Affairs Minister Sushma Swaraj’s meeting with her Chinese counterpart in Moscow, senior Chinese government sources told ET that China is revising its proposal for two industrial parks in Gujarat and Maharashtra with additional capital and planning to invest $6.8 billion in these two facilities.

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Govt gives nod to 18 Chinese firms to set up base in India

Source: Financial Express, Aug 18, 2015

New Delhi: PM Narendra Modi-led government has cleared 18 applications received from Chinese firms since June 2014 to either set up project offices, branch offices or liaison offices in the country.Several of these applications were from Chinese companies in the power sector, some from construction companies and a few from petroleum companies. The list also includes an airlines company and a prominent tyre manufacturer.

The most recent security clearance granted to a Chinese company by the Ministry of Home Affairs (MHA) was on August 11, giving a nod to an application for establishing a liaison office in India by China Non-Ferrous Metal Industry’s Foreign Engineering and Construction, Hong Kong.

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India wants China to open its market to Indian firms

Source: The Economic Times, Feb 01, 2015

BEIJING: Amid concerns over the widening trade deficit, India today hoped that China will open up its 1market to Indian companies and promised to make it easier for Chinese firms to do business in India.

“A critical change in nature of our bilateral ties over the last few decades has been its growing economic dimension. China is today our largest partner in trade in goods. The two economies are moving to invest each other,” External Affairs Minister Sushma Swaraj said. Read the rest of this entry »

China’s industry bodies to sign MoU at Vibrant Gujarat Summit

Source: Business Standard, Jan 05, 2015

Ahmedabad: Taking a step ahead to boost the Sino-India trade relationship, the China Chamber of aInternational Commerce, Sichuan Chamber and China India Trade & Investment Centre (CITIC) are all set to sign a memorandum of understanding (MoU) on January 11 (during the Vibrant Gujarat Summit) that will not only focus on economic and trade relations between the two concerned parties, but would also initiate talks for sister city agreements between Chengdu and Gandhinagar.

Aimed at enhancing India-Sichuan economic and trade exchanges and cooperation CCIC – Sichuan Chamber and CITIC will sign an MoU agreeing to exercise their best efforts to develop cooperation on various fronts.

Focus would be strengthening economic and trade cooperation in information, interactive transmission of both trade and investment management policies, economic situation, market demand and supply and major economic and trade activities information.

As per the MoU, both CITIC and CCIC, Sichuan Chamber would initiate talks for sister city agreement between Chengdu & Gandhinagar.

According to a statement from the CITIC here today, the focus will be in sectors including agriculture machinery, seeding technology, food processing, thermal/hydro power stations, IT, energy saving technology, electronics, women garments & footwear, furniture, construction material, Buddhist tourism circuit, innovation centre, banking relations, as well as starting a direct flight between Chengdu and Ahmedabad.

The statement further adds that both parties should set up import, export and innovation incubation mechanism to enhance both corporate and product promotion.

“Both parties should build up internationalised platforms for both corporations to realize “introduce products; get acquainted with merchants to achieve cooperation” through web link, economic and trade promotion and match-making event. Buddhist circuit link will be developed between Gujarat & Sichuan, under the MoU,” it said.

Both parties should give full play the role of liaison offices through assisting member corporations in solving problems and difficulties.

India’s GDP growth will overtake China’s over 2016-18: Goldman Sachs

Source: Business Standard, Dec 05, 2014

Mumbai: A day after global brokerage firm Macquarie painted a rosy picture of the Indian economy and raised its target level for the stock indices for the next 12 months, Goldman Sachs said India was set to overtake China and become the fastest-growing emerging market during 2016-18.

Goldman Sachs India managing director and chief India economist Tushar Poddar and chief Asia-Pacific strategist Timothy Moe said on Thursday they believed the Indian economy was beginning a new growth cycle, driven by reduced macro imbalances, benign global conditions (lower commodity prices) and structural reforms.

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