India seeks more Chinese investment to bridge trade deficit

Tags: News
India today sought to increase Chinese investments into the country, especially from China's largest business hub Shanghai, to bridge the ballooning $ 35 billion trade deficit.

During a meeting with Shanghai Mayor Yang Xiong, Indian Ambassador to China Ashok K Kantha highlighted the potential for expanding and diversifying trade and economic cooperation between the two neighbours.

Kantha also noted the significant role Shanghai plays in expanding the economic ties, a statement issued by the Indian Consulate in the eastern metropolis Shanghai said.

China-India bilateral trade dipped to $ 66.5 billion last year and India has been asking China to boost investments to bridge the trade deficit.

Shanghai-based companies have undertaken a number of projects in India and other enterprises should build on this foundation by stepping up their investments, Kantha said.

In recent years, Yang said, relations between Shanghai and India had made steady progress and the Shanghai municipal government remains committed to further strengthening its relations with India.

Kantha also discussed the series of activities that the Embassy and the Consulates in China plan to organise under the "Glimpses of India" Festival in China this year, which has been declared by the two sides as the "Year of Friendly Exchanges".

The Mayor assured the Indian envoy of full cooperation for the proposed activities in Shanghai, the release said.

EDITORIAL OF THE DAY

  • Reservations, along with economic subsidies, must go to get India moving

    A young man, in his early twenties, starts an agitation demanding reservation for the community he represents.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

The China story isn’t over yet

China’s financial markets are currently in the eye of a ...

Anuja Sharma

Love yourself to love others

“There are two basic motivating forces: fear and love. When ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture