CII Signs Two MoUs for Institutional Cooperation
Welcoming the economic and business outcomes of the Prime Minister's visit to China, Mr. Sumit Mazumder, President, CII noted, Prime Minister Modi's visit to China has redefined the economic partnership of the two largest and fastest-growing developing economies in the world. The Prime Minister personally took up matters of concern to industry, and CII's sense is that as a result, sentiments on both sides are very positive and upbeat.Mr. Mazumder welcomed the cooperation on pharmaceutical supervision including registration, speedier phytosanitary negotiations on agro-products, and stronger links between Indian IT companies and Chinese enterprises. CII believes that services trade can help address the trade imbalance and industry appreciates increase in cooperation in tourism, films, healthcare, IT and logistics in the joint statement, he stated.
Mr. Chandrajit Banerjee, Director General, CII stated, CII is happy that the two governments took up industry concerns in line with our 4-point agenda. We welcome the announcement of a high-powered joint task force to address the issue of trade imbalance and to expand bilateral trade and investment. The many MoUs signed by companies of both sides herald a new era in our economic relationship.
In the presence of the Prime Minister at the India-China Business Forum in Shanghai, Indian and Chinese companies exchanged 24 agreements for cooperation totaling $22 billion including investments and financing across sectors. CII signed an institutional agreement with the Provincial Government of Guizhou for promoting participation of Indian IT companies in local IT projects. CII also signed a tripartite agreement with Zhisland and Xifu, business institutions in China, for institutional cooperation in B2B engagement.
Chinese initiatives in the sectors of railways, skill development, public health and medical education will further build on economic cooperation between the two countries, added the CII statement. Besides, new areas of cooperation too have been opened up, including climate change, smart cities and space exploration.
Prime Minister Modi had a very strong accompanying Industry delegation which is reflective of the immense interest amongst the Indian Industry.
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