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China eyes Indian infrastructure pie

Discussion in 'International Relations' started by Anees, Jun 7, 2012.

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  1. Anees

    Anees Lt. Colonel ELITE MEMBER

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    China eyes Indian infrastructure pie

    China is looking to boost investments in infrastructure and telecom projects in India, as Chinese companies look to new markets amid continuing uncertainties in the West, top Chinese officials said here on Wednesday.

    Chen Yuan, the head of the powerful China Development Bank (CDB), said the bank, which was already involved in $4.4-billion worth of projects, was keen to expand its engagement in India.

    “Our loan exposure in India is $4.4 billion, mostly in infrastructure, telecoms and roads,†he said. “The CDB has had a resident country team in India since 2007, and our cooperation with India has been very important. We look forward to increasing this.â€

    Mr. Chen, speaking on the sidelines of the Shanghai Cooperation Organisation (SCO) summit, said the bank was turning its focus to South and Central Asia. On Wednesday, representatives from the six member-countries — China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan — took forward talks on setting up a regional development bank.

    “The consensus was that the inter-bank association should support real economic growth,†he said, to play a role to “fuel the shift in the growth model and economic rebalancing†in the region.

    The CDB, he said, had $219.6 billion in outstanding loans overseas.

    The bank, he noted, began its overseas engagement in the SCO region.

    “As an observer state for the SCO, we look forward to an increasing role played by India,†he added.

    India, on Wednesday, courted Chinese investment in infrastructure projects, with External Affairs Minister S. M. Krishna assuring Chinese Vice-Premier Li Keqiang in talks that India was “willing to create a level playing field and total transparency in terms of international bidding, evaluation and then ultimately decision-making.â€

    India also pressed on China the need to address the record imbalance, which rose to $27 billion last year. Trade reached $74 billion, with China becoming India's biggest trade partner.

    “Vice-Premier Li was positive in his response,†Mr. Krishna said. “He said that the Chinese government is encouraging Chinese companies to invest in India, especially in infrastructure. He agreed that for trade to be sustainable, it has to be balanced.â€

    The Hindu : Business News : China eyes Indian infrastructure pie
     
  2. layman

    layman Aurignacian STAR MEMBER

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    Very good move. It will be easy to counter the treatment vetted to the Indian Traders in China.
     
  3. tangocharlie

    tangocharlie Lieutenant SENIOR MEMBER

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    We will also look after our middle and small industries, these could be starved due to Chinese finished good.
     
  4. KAUTILYA

    KAUTILYA Lieutenant SENIOR MEMBER

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    Anything Chinese especially in the telecom sector should be avoided.Who know's to what extent they could go the bug the entire country.
     
  5. tangocharlie

    tangocharlie Lieutenant SENIOR MEMBER

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    Agree !!! Agree !!! Agree !!! Banned Chinese cheap product in India, this will save our small and medium industries. And then obiviously costly things are already best in case if they are MADE IN INDIA rather MADE in CHINA.


    And And And... I can't belive.. Its my 500th post.
     
  6. layman

    layman Aurignacian STAR MEMBER

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    Congrads Tango Sab, for your 500th posts.
     
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