Modi-Xi summit in TN: Indian and Chinese companies sign 129 MOUs

Prime Minister Narendra Modi and Chinese President Xi Jinping will meet for 'second informal summit' in Tamil Nu's
Mamallapuram on Friday. Ahe of meeting,129 MOUs were signed between Indian and Chinese companies. Both countries have ackwledged that investments between m have grown incredibly in past few deces. 

'India and China have huge potentials'

Earlier, at an India-China business meeting, ZHU Xiaohong, Counselor, Embassy of People's Republic of China said:

" With a combined market of over 2.7 billion people and GDP of 20 per cent of world's total, China and India enjoy huge potential and bro prospects for ecomic and tre cooperation." 

'Asian century'

Ahe of summit, Chinese state-run media has me a big statement on India-China relations. An article in Global Times stated that without cooperation between India and China, rise of Asia looks impossible. article has also stated  importance of investments both countries get from each or.

" Chinese companies have in recent years proactively participated in India's initiatives, such as "Make in India" and "Digital India," expanding investment in country's industrial parks and e-commerce, creating substantial job opportunities in India. India's investment in China is also rising." says article.

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Investments on rise

Chinese investment in India is also on a rise, LIU Changyu, Deputy Director-general of China h earlier said:

"In next 15 years, China will import $30 trillion of goods and $100 billion of services from world. As only two major developing countries with a population of more than 1 billion in world, China and India are focusing on development." 

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Tre volumes increasing

According to a statement released by Government in 2017, tre volumes between two countries are also increasing. statement also said that India was 7th largest export destination for Chinese products and 27th largest exporter to China. 

 "Tre volume between two countries at beginning of century, year 2000, stood at US$ 3 billion. In 2008, bilateral tre reached US$ 51.8 billion with China replacing United States as India’s largest, Goods tring partner, In 2011 bilateral tre reached an all-time high of US$ 73.9 billion." 

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