Indian, Chinese companies sign MoUs envisaging $2.5 billion investment

A high level Chinese delegation conveyed the interest of Chinese companies in the fields of trade, economy, culture and tourism

Indian and Chinese companies have inked agreements envisaging an investment of $2.5 billion during the visit of a Chinese delegation to the country.

"The visit of the Chinese delegation was very successful and agreements (MOUs) estimated at $2.5 billion were concluded between Chinese and Indian companies," said Xia Baolong, Chairman of the Standing Committee of Zhejiang Provincial People's Congress.

The high level Chinese delegation met Finance Minister Arun Jaitley yesterday.

Xia conveyed the interest of Chinese companies in the fields of trade, economy, culture and tourism, among others.

While welcoming the delegation, Jaitley reiterated the Government's commitment to work towards expanding and deepening engagements and relations between India and China based on mutual complementaries and common interests.

He noted that as two large countries with growing economies, the relationship between India and China transcends bilateral scope and has regional, global and strategic significance.