India and China sign trade deals worth $22bn

Indian PM Narendra Modi

Indian PM Narendra Modi

India and China sign trade deals: The visit of India’s Prime Minister Narendra Modi to Shanghai is being hailed as a resounding success by his country’s press after it was revealed that his delegation had signed trade and economic co-operation deals worth $22bn with their hosts.
 These include an agreement with the China Development Bank to fund a power plant for India’s Adani Power; a JV for a steel plant between India’s Welspun and two Chinese firms; and several other initiatives in the areas of housing, renewable energy, high-speed rail, metro, ports and airports.
“We are very keen to develop the sectors where China is strong,” Modi told a Chinese business forum. “We need your involvement…I strongly believe that this century belongs to Asia”

Source: straitstimes