Modi seeks investment from China
Updated: Jul 15, 2014 03:35:28pm
New Delhi, Jul 15 (KNN) India sought to correct a huge trade imbalance with China by seeking Chinese investment in infrastructure and opening of the Chinese market for Indian service sector. The issue was taken at the highest level when Prime Minister Narendra Modi, met Chinese President Xi Jinping shortly after his arrival in Fortaleza, Brazil, for the Sixth BRICS Summit.
The 80-minute meeting was the Prime Minister’s first summit-level interaction with China, according to an official release here.
It said that the Indian Prime Minister “called for enhanced Chinese investment in the infrastructure sector in India, and hoped that the trade imbalance between the two countries is resolved. President Xi Jinping agreed that balance in trade is necessary for a sustainable economic relationship. He also said enhanced services exports from India to China could be one way to address the issue.”
The issue was raised in Parliament last week that India is importing from China, almost everything from “pen to piano.”
Commerce Minister, Nirmala Sitharaman had said that her Ministry is in talks with the Finance Ministry to discuss ways of protecting the local manufacturing industry as regards to giving protection to the local manufacturing.
She said that India is importing a lot more than what it is exporting to China. (KNN/SD)
The 80-minute meeting was the Prime Minister’s first summit-level interaction with China, according to an official release here.
It said that the Indian Prime Minister “called for enhanced Chinese investment in the infrastructure sector in India, and hoped that the trade imbalance between the two countries is resolved. President Xi Jinping agreed that balance in trade is necessary for a sustainable economic relationship. He also said enhanced services exports from India to China could be one way to address the issue.”
The issue was raised in Parliament last week that India is importing from China, almost everything from “pen to piano.”
Commerce Minister, Nirmala Sitharaman had said that her Ministry is in talks with the Finance Ministry to discuss ways of protecting the local manufacturing industry as regards to giving protection to the local manufacturing.
She said that India is importing a lot more than what it is exporting to China. (KNN/SD)
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