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Chinese companies extend reach in India
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THREE companies from eastern China have planned to invest in Gujarat, a vibrant region in India, according to an investment forum held in Shanghai yesterday.
It was noted that Shanghai Automotive Industry Corporation is in an advance stage of negotiations to set up an auto assembly unit, which is likely to be located in Gujarat. Yangzhou-based Chengde Group has also submitted a project proposal to set up a CNG tank assembling unit in Baroda. In addition, Zhenhua Port Machinery Corporation is also planning to put up an assembly unit for crane parts at a suitable location in Gujarat.
Consulate General of India in Shanghai, along with Government of Gujarat jointly organized the event to promote the region, which was attended by 70 leading Chinese companies from the eastern China region. They had expressed strong interest in investing in India.
Principal Secretary of Gujarat Government Sanjay Prasad delivered the key-note address, highlighting the long-term cooperation that existed between Government of Gujarat and Chinese companies, in particular from the Eastern China region. He also assured all Chinese companies that the Consulate would be willing to facilitate their investment plans for India in full earnest
In January of next year, a large event named “Vibrant Gujarat Investors Summit” will be held in Gandhinagar, and Prasad welcomed Chinese companies to participate.
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