 "The 5 deals to be signed during Xi Jinping's visit")
China’s President Xi Jinping arrives in India on his first state visit today. China has already announced that it will invest $100 billion in India, mainly in the infrastructure sector and industrial parks, over the next five years. Here’s a quick look at the top deals expected to be signed during the two-day visit.
- An investment proposal worth $2.2-billion is likely to be signed between IndiGo Airlines and Industrial and Commercial Bank of China for leasing and financing of 30 aircraft.
- In the telecom sector, two Memoranda of Understanding (MoUs) of $150 million each will be signed by Reliance Communications with ZTE and Huawei.
- China Meheco Co will also sign a MoU with pharmaceuticals major Lupin. The size of the deal is yet to be announced.
- The Gujarat state government and the Ahmedabad Municipal Corporation and will sign two MoUs, with the Chinese government delegation for exchanges in economic and cultural sectors.
- The Chinese Development Bank (CDB) will sign an MoU with Gujarat’s Industrial Extension Bureau (iNDEXTb) for promotion of industries and industrial parks in the state.