Prime Minister Narendra Modi’s visit to China has yielded $22 billion worth of MoUs showing China Inc.’s strong interest in the Indian story, says a statement released by the Ministry of External Affairs.
The MoUs which span a wide range of industries including renewable energy, power infrastructure, and steel and small & medium industries will enhance Chinese companies’ commitment to ‘Make in India’, MEA has said.
The business-to-business MoUs include Indian industry giants like Bharti Airtel Ltd, Adani, Sun Group, Wipro and GMR Limited.
Some of the Major Deals:
Sister Port :
- Adani Ports & SEZ and Guangzhou Port Authority agreed to establish “sister port relationship”
- Ports Involved : Mundra Port and Guangzhou Port.
- Bharti Airtel‘s tie-up for credit facility with China Development Bank and Industrial and Commercial Bank of China.
- Agreement worth : $ 2.5 billion.
Services Sector :
- Technology major Infosys also entered into an MoU with People’s Government of Qiannan Autonomous Prefecture to jointly build ‘China India Information Service Industry Corridor’ in Qinnan.
- Infosys launched its Shanghai campus
Power and Natural Gas :
- The Adani Group also inked an agreement with Golden Concord Holdings to establish an integrated photovoltaic industrial park in Mundra SEZ
- It will help to explore the investment opportunities in gas power generation and natural gas sector.
- Welspun Energy entered into a memorandum of understanding with Trina Solar of China to jointly set up a PV industry park .
- This Agreement would help in for production of 500 MW of Photovoltaic (PV) cell and 500 MW of PV solar module in India.
- IL&FS Energy Development Co and China Huaneng Group for 4,000 MW Nana Layja Thermal Power (Coal) project
Steel and Mines :
- Jindal Steel and Power and ICBC on development of potential projects.
- Bhushan Power and Steel signed a pact with China National Technical Import and Export Corporation for an integrated steel project in Gujarat.
IL&FS and Industrial & Commercial Bank of China (ICBC)
Film & Entertainment :
Co-Production of film Xuan Zang : Eros and China Film group
Others Indian Companies Signed deals with its Chinese Counterparts:
- Two agreements were signed by the Confederation of Indian Industry and one agreement each by the Essel Group,
- Sun Group,
- Axis Energy Ventures,
- Government of Gujarat’s mines department,
- NIIT and
- Aarvee Associates.