Wide array of opportunities opened up in China post Modi's visit: CII

Industry body Confederation of Indian Industries (CII) on Wednesday said the recent visit of Prime Minister Narendra Modi to China has opened up an extensive range of opportunities for Indian businessmen.

"What I find heartening is that both the governments (in India and China) have demonstrated their commitment to take bilateral economic relationship to a new level. A wide array of opportunities has opened up for Indian businesses in China," CII president Sumit Mazumder said at a press meet here.

Welcoming the initiatives taken by Modi during his visit to India's neighbour, the CII also noted that the "path-breaking reforms" carried out in six key areas - economic and fiscal management, ease of doing business, transparency and predictability of the tax system, allocation of resources, openness to foreign investments and foreign trade - have generated "positive sentiments".

Mazumder noted that since coming into power in May 2014, the Modi government has adopted several measures to reinvigorate investor interest and there are visible results on the ground.

He said that focus on Make in India, skill development, agricultural investment and infrastructure can be part of a definitive strategy for reaching double-digit GDP growth.

The association has predicted the national economy to grow 9-10 percent in the medium-term.