India, China sign $16 bn deals |
| Hindustan Times - Dec 15, 2010 |
Chinese Premier Wen Jiabao gave a thumbs-up to large fund flows and deals between China and India on Wednesday as he arrived with 300 industry leaders in tow for a visit that aims to build trust through trade.
"It is necessary to ease restrictions concerning approval procedures, capital flow and entry and exit of people, thus creating more favourable conditions for mutual investment,” Wen told corporate captains at a meeting organised jointly by the three apex chambers — CII, FICCI and Assocham. Shortly after his 10-minute address, Indian and Chinese companies signed 49 deals worth $16 billion (R70,000 crore).
Following the deals, India and China will sign an inter-governmental pact to facilitate investments after Wen meets Prime Minister Manmohan Singh on Thursday.
On India’s claim for a permanent seat at the UN Security Council, government sources expect the Chinese to stick to the "having more discussions" line but articulating an "evolved position", that will not amount to a very open endorsement.
Read Full Article from Hindustan Times
- Posted: 2010-12-15 13:58:05
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