PM Narendra Modi in China: Deals worth more than $22 billion signed

SHANGHAI: India and China signed deals worth more than $22 billion in areas including renewable energy, ports, financing and industrial parks, an Indian embassy official said on Saturday.

Namgya C. Khampa, of the Indian Embassy in China, made the remarks at the end of a three-day visit by Prime Minister Narendra Modi, during which he sought to boost economic ties and quell anxiety over a border dispute between the neighbours.

21 Business Agreements being signed between #IndiaChina worth USD 22billion at India-China Business Forum pic.twitter.com/GxNnnarTkg

— Vikas Swarup (@MEAIndia) May 16, 2015

"Let us work together in mutual interests," Modi told executives from 200 Chinese and Indian companies at the signing ceremony.

"We are very keen to develop the sectors where China is strong. We need your involvement. The scope and potential, the breadth and length of infrastructure and related developments is very huge in India," PM Modi said.

"We want to Make things in India. For this purpose, we have launched a campaign called "Make in India". It is also the effort of my government to encourage innovation, R&D and entrepreneurship in the country. In this year’s budget, we have set up some innovative institutional mechanisms for that purpose," he pitched.

"Many Chinese companies have the possibility of investing in India to take advantage of India’s potentials. The potential lies in Manufacturing, processing as well as in infrastructure," Modi added.

Stating that India is "ready for business", Modi concluded, "You must be sensing the winds of change in India. I only advise to you to come and feel the same. I assure you of my personal attention for your success."