"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.
"(Modi) has demonstrated his success in attracting Chinese investments in his home state Gujarat, where several Chinese companies have invested," Pan was quoted by sate-run China Daily as saying in an article.
Fosun Group plans to invest "anything between USD 100 million to USD 500 million in the next two to three years", Pan said.
The article was published days after President Xi's visit during which agreements worth about USD 20 billion were signed to set up two Chinese Industrial Parks in Gujarat and Maharastra besides modernisation of Indian railways.
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USD 20 billion fell short of expectations after a Chinese diplomat spoke of likelihood of USD 100 billion investment to rival Japan's commitment to invest USD 35 billion in India.
"Even as India says that it wants to encourage manufacturing with foreign help, Huawei is still struggling to obtain a manufacturing license in India," Sameer Rawal, director of strategy and marketing at Huawei India told the Daily.
"Concerns regarding security and suspicion continue to hinder the process," Rawal said.