Chinese President Xi Jinping is set to embark on his first visit to India where Prime Minister Narendra Modi would receive him in Ahmedabad on September 16th.
The President is coming along with a delegation of business representatives, who are keen to invest in Gujarat, which is emerging as a preferred destination for Chinese companies in the manufacturing sector.
During Xi’s two-day stay in Gujarat, several MoUs will be inked between authorities of Gujarat and China in the presence of the Prime Minister and Xi on September 17th, Modi’s birthday.
Interestingly, this will also be Modi's first visit to Gujarat after assuming the post of the Prime Minister.
“Many Chinese companies are attracted to Gujarat for investments particularly in manufacturing sector. China Development Bank has also decided to set up its office in Ahmedabad to finance projects Chinese companies are setting up here,” Gujarat’s additional chief secretary (industries) J Pandian said.
He added that energy, infrastructure and manufacturing are the areas Chinese companies are interested in investing in India.
“In the next Vibrant Summit to be held in January 2015, many Chinese companies will come to sign MoUs for investments in Gujarat. They have decided to set up a manufacturing park in which only Chinese firms will have their units in Gujarat,” he added.
One of the agreements to be signed during President Xi Jiping’s visit will be about a 10 sq km industrial park near Ahmedabad which would attract investments in excess of $1 billion.
{{/usCountry}}One of the agreements to be signed during President Xi Jiping’s visit will be about a 10 sq km industrial park near Ahmedabad which would attract investments in excess of $1 billion.
{{/usCountry}}This park would have main focus on power transmission and generation equipment manufacturing.
In last one year, 5-6 Chinese companies have opened their manufacturing units in Gujarat.