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Modi's visit to china evokes interest from chinese companies

Modi's visit to china evokes interest from chinese companies Source:
Date: 14-11-2011
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The delegation, which had accompanied Gujarat Chief Minister Narendra  Modi to China, has termed the visit to be successful and said that it has generated interest from the Chinese companies for setting up businesses in the state.

Terming the five-day tour to be fruitful, Chief Minister Narendra Modi tweeted "Explored tie-ups in infrastructure, culture, telecom & technology. Thanks to China for their warm welcome."

The delegation, which has returned to India, comprised corporate head honchos Parimal Nathwani of Reliance, Pranav Adani of Adani Group, Manish Kiri of Kiri Dyes and S P Dangayach of Sintex. The delegation members stated that Chinese companies were enthusiastic to invest in Gujarat because of "industrial peace" here.

"A lot of interest was generated by Chinese companies in sectors like infrastructure, solar panel manufacturing, semi-conductor, renewables, port development and very high value-added products," Gujarat Principal Secretary Industries Maheshwar Sahu, member of the delegation, said.

"A delegation of Textile Machinery manufacturing companies from China will be visiting day after tomorrow here to explore investment opportunities," Sahu told PTI.

"A forecast of Chinese investment to the tune of USD 100 billion is expected in India over the next five years. Our target shall be to attract at least 10 per cent of it into Gujarat," he said.

Replying to a media query on whether any cheaper fund-providing Chinese companies looking to invest in Gujarat, Sahu said, "There is some interest from funds to lend money at cheaper interest. We could have some access to cheaper funds for our projects."

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