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India, China consider investment, trade deficit

UNI India-English 2017-12-06 18:01:00
Beijing, Dec 6 (UNI) India and China have agreed to pursue balanced and sustainable bilateral trade and noted opportunities for higher Chinese investments in the Indian economy in a follow-up to the September talks between Prime Minister Narendra Modi and Chinese President Xi Jinping.

India's trade deficit of over $50 billion with China in 2016-17 is a major irritant in the bilateral relationship.

In a continuation of its efforts to boost Chinese investments in India, the Embassy of India on Wednesday organised a seminar on Investment Opportunities in India in Beijing in which Niti Ayog Vice Chairman Rajiv Kumar emphasised the sound economic fundamentals of India, such as a young working population, high savings rate and low levels of government debt.

The event also saw sector-specific presentations made on the renewable energy and food processing sectors in India.
More than 190 Chinese companies attended the event and secific querries by representatives of some of the companies on the taxation structure in India and the incentives offered to Chinese investors, especially in the renewable energy sector were answered.