Chinese firms eying major investments in India:
Report
23/09/2014 16:31
Following Chinese President Xi Jinping’s successful India visit last week, Chinese companies are eying India as a major destination for overseas investment, according to media reports.
Chinese companies are hoping that the return of the more growth and reform friendly NDA government to power is likely to make India a more investor friendly country.
Prime Minister Narendra Modi has vowed to make it easier for foreign firms to do business in India while he has also committed to open up more sectors to foreign direct investment (FDI). The government recently raised the cap for FDI in the defence and railways sector.
“India is a great market and under the leadership of the new Prime Minister Narendra Modi, the country is now seen as a market with better prospects for foreign investments," said Pan Song, MD of private equity at Fosun Group, one of the largest privately owned conglomerates in China, the PTI reported.
"(Modi) has demonstrated his success in attracting Chinese investments in his home state Gujarat, where several Chinese companies have invested," Pan was quoted by state-run China Daily, the PTI reported.
China committed to invest USD 20 billion in India over five years including the development of two industrial Parks in Gujarat and Maharashtra, and modernisation of Indian railways.
23/09/2014 16:31
Following Chinese President Xi Jinping’s successful India visit last week, Chinese companies are eying India as a major destination for overseas investment, according to media reports.
Chinese companies are hoping that the return of the more growth and reform friendly NDA government to power is likely to make India a more investor friendly country.
Prime Minister Narendra Modi has vowed to make it easier for foreign firms to do business in India while he has also committed to open up more sectors to foreign direct investment (FDI). The government recently raised the cap for FDI in the defence and railways sector.
“India is a great market and under the leadership of the new Prime Minister Narendra Modi, the country is now seen as a market with better prospects for foreign investments," said Pan Song, MD of private equity at Fosun Group, one of the largest privately owned conglomerates in China, the PTI reported.
"(Modi) has demonstrated his success in attracting Chinese investments in his home state Gujarat, where several Chinese companies have invested," Pan was quoted by state-run China Daily, the PTI reported.
China committed to invest USD 20 billion in India over five years including the development of two industrial Parks in Gujarat and Maharashtra, and modernisation of Indian railways.
