India, China sign billion dollar deals
May 16, 2015
China and its largest trading partner, India, have signed agreements worth more than $22 billion (19 billion euros) in Shanghai on Saturday.
Indian embassy official Namgya C. Khampa said "the agreements have a bilateral commercial engagement in sectors like renewable energy, industrial parks, power, steel, logistics finance and media and entertainment."
During Saturday's deal signing ceremony, visiting Indian Prime Minister Narendra Modi told executives from over 200 Chinese and Indian companies that "now India is ready for business."
Modi is on the final-day of a three-day trip to China where the nationalist leader has moved to engage with Beijing since his election last year.
The dual trading partners have two-way commerce totaling $71 billion.
Relations between the world's two most populous nations are soured by a long-standing border dispute that saw Beijing and New Delhi fight a brief war in 1962.
On Friday, Modi told Chinese Premier Li Keqiang that Beijing must “reconsider its approach” to bi-lateral relations.
jlw/bw (Reuters, AFP)