Modi's China visit News

To help Indian and Chinese corporates in cross-border businesses, top private sector lender ICICI Bank on Saturday opened its first branch in China, which was inaugurated by Prime Minister Narendra Modi.

Bharti Airtel on Saturday said it has received financing commitments of up to USD 2.5 billion from China Development Bank and Industrial and Commercial Bank of China, with an average maturity of about nine years.

Infosys chief executive officer Vishal Sikka on Saturday said that India and China working together would create a pool of opportunities, concurring with Prime Minister Narendra Modi`s vision with regards to a partnership between the two nations.

Reaching out to Chinese investors, Prime Minister Narendra Modi on Saturday 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 deals worth USD 22 billion.

As many as 26 business agreements worth over USD 22 billion were signed Saturday between Indian firms -- including Adani group, Bharti Airtel and Welspun -- and thier Chinese counterparts on the last day of Narendra Modi's three-day visit to China.

India is ready to do business and is constantly improving the ease of doing business, Prime Minister Narendra Modi said on Saturday at the India-China Business Forum here that saw 21 business agreements worth USD 22 billion being signed.

In his address to the India-China Business Forum, Modi said that India offers historic opportunity for Chinese industry.

After their interaction with Prime Minister Narendra Modi on Saturday, the CEOs of a number of Chinese firms pledged their `full support` for the `Make in India` initiative.

Prime Minister Narendra Modi on Saturday met the CEOs of top Chinese firms, including Alibaba`s Jack Ma here and invited them to participate in the `Make in India` initiative.

Modi flagged India's concerns in his comments after his talks with Li as recent official reports said the deficit touched USD 48 billion in the total trade of about USD 70.6 billion last year.

India and China will sign several business agreements worth about USD 10 billion at the India- China Business Forum to be addressed by Prime Minister Narendra Modi in Shanghai Saturday.

The trade imbalance has touched USD 38 billion, which is a major concern for India.