A China firm signs MoUs Worth $5 billion with Gujarat govt

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Even as voices of boycott of Chinese goods get louder in the country, a Gujarat government delegation that visited China to promote the Vibrant Gujarat summit 2017, signed $5 billion worth agreements with Chinese companies. The delegation that concluded its four-day visit Friday, visited Beijing, Shanghai, Guangzhou and Shenzhen cities under the leadership of Sanjay Prasad, Principal Secretary, Agriculture and Cooperation Department of the state government.

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The delegation held meetings with government officials, top officials of industry bodies and trade associations in China.

During these meetings, the government of Gujarat signed key Memorandum of Understandings (MoUs) and investment proposals with Liaoning Province of The People’s Republic of China, Dynagreen Environmental Protection Group Co. Ltd, JCHK Holding Co. Ltd., Chengdu Xingrong Group, Pacific Construction Group, ZTEsoft Technology Co. Ltd and Sinoma Taishan Fibreglass Inc.

These MoUs are in sectors like textiles, solar energy, fiber glass, waste processing for renewable energy, automobiles, software technologies, manufacturing industrial parks and infrastructure projects.

“The time and environment is ideal for the Chinese companies to set up their businesses in Gujarat and cater to the growing Indian and world markets. Gujarat will not only act as an investment hub for Chinese companies to grow their businesses, but will also act as a gateway to access the whole world. These business initiatives will benefit the citizens of the two countries and will lead to economic development and enhanced industrialization in India as part of the ‘Make in India’ campaign announced by Prime Minster Narendra Modi. China’s participation at the Vibrant Gujarat 2017 Summit will further strengthen the relationship which Gujarat shares with China,” Prasad said in a statement issued here on Friday.

A 40-member team comprising Chinese MSMEs companies from Kunshan Chamber of Commerce also met the team from Gujarat and expressed interest in setting up a Chinese industrial park in the state.

Source : Indian Express

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