Saturday, September 13, 2014

#China keen to invest in India to bridge trade deficit

China's consul general in Mumbai, Liu Youfa, told the Times of India last week that Chinese investment in the modernization of India's railways could eventually touch $50 billion.

Beijing is looking to invest another $50 billion in building India's ports, roads and a project to link rivers; part of an infrastructure push that PM Modi has said is his top priority to crank up economic growth.Chinese investment will also help narrow a trade deficit with India that hit $31 billion in 2013.Chinese President Xi Jinpingin is coming to India on September 17.