After the new leadership was announced in China, the country is sending a huge business delegation along with officials of the National Development and Reform Commission (NDRC), the counterpart of India’s Planning Commission, to New Delhi. As many as 10 agreements are expected to be signed on Monday, when the delegation meets India’s Planning Commission members and companies as part of the India-China Strategic Economic Dialogue that began last year in Beijing.
The delegation of about 200 officials and business heads would sign two official Memorandums of Understanding (MoU), an agreement related to the IT sector, and several business-to business agreements, Planning Commission member secretary Sindhushree Khullar told reporters.
The official MoUs were cleared by India’s Cabinet yesterday. One of them would be between the Planning Commission and NDRC, and the other on sharing the technology and experience in energy efficiency measures.
Nasscom and its Chinese counterpart will also sign an MoU on the IT sector.
Besides, seven MoUs are likely to be signed between companies of India and China.
The Indian delegation will be led by the Deputy Chairman of Planning Commission Montek Singh Ahluwalia, while the Chinese side will be headed by National Development Reforms Commission Chairman Zhang Ping. The delegates include the Chinese counterparts of commerce secretary, economic affairs secretary and chairman, Railway Board.
The business delegation would include representatives from State Grid Corporation of China, Dongfang Electric Corporation Ltd, Hydro China Corporation, Shanghai Electric Group, and China Ming Yang Wind Power Ltd.
When asked whether the huge trade deficit against India in exports and imports between the two countries would also be discussed, a key Planning Commission officials said, “We all know the problems between India and China are related to economic relations and the border issue. However, the dialogue would focus on boosting ties for mutual cooperation.”