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India aims to lure capital from China
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INDIA’S campaign to transform the country into a global manufacturing powerhouse will benefit Chinese enterprises, coming after President Xi Jinping’s visit to the country last week which yielded investment deals worth US$20 billion.
India will place emphasis on Chinese investors after Indian Prime Minister Narendra Modi on Thursday launched a “Make in India” campaign to draw foreign investments, Naveen Srivastava, consul general of India in Shanghai, told a promotion event yesterday in Shanghai.
India’s promotion to attract more Chinese investors coincided with agreements reached during Xi’s state visit last week to set up two Chinese investment parks in India and commitment to invest US$20 billion.
Srivastava said that in the last 100 days, India’s new government has already taken measures to lure foreign investments in transport construction, affordable housing, development of smart cities, building of new industrial corridors. Administrative procedures for foreign investors have also been simplified.
India said foreign direct investment inflows jumped 74 percent in June and July from the same period a year ago after Modi came to power in late May.
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