The delegates from different parts of India were hosted by the Indian Ambassador to China, S Jaishankar.
They are due to meet Li on May 15 before they leave for the southwest Chinese city of Wuhan. From there they would go to southern industrial city of Shenzhen and visit some of the business houses based there.
Mutual annual visits of large youth delegations has become a regular feature of between the two countries in recent years.
Last year a similar Indian delegation visited China and interacted with the then Premier Wen Jiabao. Some members of that delegation created an unsavoury incident, leading to complaints of harassment by women delegates.