In China, Modi to push for expediting industrial parks.

Prime Minister Narendra Modi is expected to aggressively push for expediting Chinese investment into proposed industrial parks in India, even as China has sought that its investments in this country aren't subjected to undue scrutiny.

Modi's much-awaited visit to China on May 14-16 is likely to spur investments worth $10 billion through various trade deals. Chinese President Xi Jinping had already committed to investing $20 billion in India through the next five years, a senior official told Business Standard.

Since both sides signed a memorandum of understanding (MoU) on setting up industrial parks exclusively for the Chinese here, there has been no movement in this regard in terms of big-ticket investments or setting up a manufacturing unit. This is despite the fact that Chinese authorities have already identified two zones in Pune and Ahmedabad to set up industrial parks, expected to be spread over 1,250 acres.


BS