Shanghai | Reaching out to Chinese investors, Prime Minister Narendra Modi today asked them to take advantage of the winds of change in India with a much more transparent, responsive and stable regulatory regime even as leading firms from the two sides signed 26 deals worth more than USD 22 billion.
This is a historic opportunity for Chinese companies, Modi said addressing the India-China Business Forum here in China’s financial hub after interacting with 22 CEOs of top Chinese companies, including Alibaba Group chairman Jack Ma. We have committed ourselves for creating and improving the business environment.
I can assure you that once you decide to be in India, we are confident to make you more and more comfortable, the Prime Minister said. India is ready for business. You must be sensing the winds of change in India. I only advise you to come and feel the same, he told business leaders from both countries.
The Prime Minister said as two major economies in Asia, harmonious partnership between India and China was essential for economic development and political stability of the continent. You are the ‘factory of the world’. Whereas, we are the ‘Back office of the world’.
You give thrust on production of hardware, while India focusses on software and services, he said. Earlier, he met CEOs of 22 top Chinese companies including Alibaba, China Light and Power, Xiaomi, Huawei and Trina Solar on the last leg of his three-day visit to China.
India’s Adani Group and Bharti Airtel Ltd. both signed three agreements each with Chinese firms. Indian firms signed 26 deals worth more than USD 22 billion with Chinese companies in a range of sectors including renewable energy, power infrastructure, steel and small and medium industries.