Gujarat seeks to improve trade ties with China
18/09/2014 12:40
According to media reports, the state of Gujarat is hoping that the inking of MOUs with China to set up industrial parks in the state will start a fresh chapter in trade ties between the world’s second biggest economy and Gujarat.
"Chinese companies have invested Rs 700 crore in the state so far, but with the signing of this pact to establish industrial parks in the state, we believe that their investment will increase," Additional Chief Secretary Industry D J Pandian said.
The state government of Gujarat is hopeful that signing of pacts with China to establish industrial parks in the state will boost employment and growth in Narendra Modi’s home state.
On Wednesday, China Development Bank and iNDEXTb (Industrial Extension Bureau), a state government body inked an MOU for facilitation of investments in the manufacturing sector including setting up of industrial parks in the state, starting from one in Vadodara.
"The Chinese have shown interest in establishing three to four industrial parks here. One has been finalised near Karjan in Vadodara in Gujarat," Pandian said, the PTI reported.
Further, China is aiming to establish manufacturing units in electrical, electronics, plastic, etc. in these industrial parks. The China Development Bank will help fund the establishment of these manufacturing units and industrial parks by providing financing at very low rates.
"This will help promote domestic industry, as local companies will have the opportunity to become suppliers to Chinese manufacturing units. It will also encourage adoption of new technology by local firms and reduce imports," Pandian said, the PTI reported.
18/09/2014 12:40
According to media reports, the state of Gujarat is hoping that the inking of MOUs with China to set up industrial parks in the state will start a fresh chapter in trade ties between the world’s second biggest economy and Gujarat.
"Chinese companies have invested Rs 700 crore in the state so far, but with the signing of this pact to establish industrial parks in the state, we believe that their investment will increase," Additional Chief Secretary Industry D J Pandian said.
The state government of Gujarat is hopeful that signing of pacts with China to establish industrial parks in the state will boost employment and growth in Narendra Modi’s home state.
On Wednesday, China Development Bank and iNDEXTb (Industrial Extension Bureau), a state government body inked an MOU for facilitation of investments in the manufacturing sector including setting up of industrial parks in the state, starting from one in Vadodara.
"The Chinese have shown interest in establishing three to four industrial parks here. One has been finalised near Karjan in Vadodara in Gujarat," Pandian said, the PTI reported.
Further, China is aiming to establish manufacturing units in electrical, electronics, plastic, etc. in these industrial parks. The China Development Bank will help fund the establishment of these manufacturing units and industrial parks by providing financing at very low rates.
"This will help promote domestic industry, as local companies will have the opportunity to become suppliers to Chinese manufacturing units. It will also encourage adoption of new technology by local firms and reduce imports," Pandian said, the PTI reported.
