Indian and Chinese corporations on Saturday signed memorandums of understanding (MoU) worth USD 22 billion, with the agreements spanning a wide range of industries including renewable energy, power infrastructure, steel and medium industries.
The Adani group in particular has signed multiple MoUs with Chinese firms such as Golden Concord Holdings, China Development Bank and Guanzhou Port Authority. Other groups such as Bharati Airtel, Essel Group, Sun Group, Wipro, Infosys and Eros Group also signed MoUs.
The Ministry of External Affairs has said that the MoUs would increase the Indo- China partnership and investments in India. The Chinese companies are also expected to contribute towards the ‘Make in India’ initiative.
The MoU s are also expected to improve cooperation between the Indian and Chinese film industries. (ANI)