Indian, Chinese firms ink 15 MOUs worth $590 million

Fifteen MOUs amounting to $590 million were inked between Gujarat and the Guangdong province of China at the China (Guangdong)-India (Gujarat) Economic and Trade Cooperation Conference 2015 in Ahmedabad. The deals cover sectors like infrastructure, energy, agriculture, IT, electronics and pharmaceuticals.

(Guangdong Governor – Zhu Xiaodan)

(Gujarat CM – Anandiben Patel)

• Event was organised by the Government of Guangdong province of China.

PARTICIPANTS

• The 11 member Chinese delegation led by Zhu Xiadon focussed on deepening ties with India.
• The business conference had 300 participants including Indian firms and 50 Chinese firms.

KEY AGREEMENTS

• To develop the Ahmedabad Industrial Park signed by Gunagdong-based Wangtat Construction, Investment Holding Group of China and the Apollo Group of Companies.
• Wangtat Group has also joined hands with the Gujarat-based Payal Properties to develop an industrial park in Bharuch.
• An investment cooperation agreement has been signed between the Silkroad Development Holdings Ltd of China and the India-based Vasundhara Infra-Developers to develop the ambitious Silk Road project.
• A three-party cooperation agreement to boost cross-border e-commerce has been signed between SFC Service Ltd, Global Private and Gati.
• A MoU has been signed by Guangdong Silique International Group and Shah Silk and Fabrics for cotton yarn trade.
• Other MOUs were signed between Indian and Chinese firms in the field of biotechnology, LED illuminators, furniture trade, engineering, ICT equipment, pharma and infrastructure projects
• Direct flight between Guangzhou city and Ahmedabad (both cities have signed a sister-city agreement in September 2014)

ABOUT MSR

• The Maritime Silk Road, officially the 21st Century Maritime Silk Route Economic Belt is a Chinese strategic initiative to increase investments and foster collaboration across the historic Silk Road.
• India stands at the intersection of the Silk Road on land and sea, along which Gujarat is an inevitable stop, while Guangdong is the starting point

KEYS

• China Capital – Beijing
• China Currency – Renminbi
• China President – Xi Jinping
• China PM – Premier Li Keqiang