Chinese investment delegation visits Delhi, Ahmedabad

Coinciding with the visit of Chinese Foreign Minister Wang Yi, representatives from 15 Chinese companies from Wenzhou of Zhejiang province visited Delhi on way to their investment destination of Gujarat to scout for fresh investment opportunities.

In Delhi, the Chinese investment roadshow was hosted by China India Trade & Investment Centre (CITIC), a new body created with sharper focus on two way trade & investment. CITIC is headquartered in Ahmedabad. The delegates were addressed by Atul Chaturvedi, IAS – Joint Secretary, DIPP, Government of India who spoke on the investment climate, challenges, opportunities & incentives in India & Anand Bhal, Economic Adviser to Ministry of Urban development, Government of India who spoke on opportunities for Chinese companies in urban development sectors like water supply, sewage, Solid Waste Management, Metro rail and Bus Rapid transit system.

China’s Foreign Minister Wang Yi on June 8 held talks with External Affairs Minister Sushma Swaraj, during which all issues of significance were on the table, including the unsettled border, Tibet and stapled visas besides a boost in trade ties.

According to the spokesperson, Wang and Sushma Swaraj held fairly long and detailed discussion on economic issues which included specific projects, the trajectory of economic ties and the potential for tapping opportunities as well as issues that may impede the speeding up of the intensity of economic ties.

Sushma Swaraj further appealed to China to set up industrial parks in India. The group of Chinese investors also visited Ahmedabad for the same.

The delegation then visited Ahmedabad and shortlisted three sites for setting up the China town project for automotive companies with housing facilities. A township plan was presented to them by Technopolis Township.

Chinese companies have a target to invest of $1 billion in the state of Gujarat this year. According to Jagat Shah, Interim Secretary General, CITIC, Gujarat has become a favoured destination for industrial investments after former chief minister Narendra Modi's visit to China in 2011, in which he had accompanied the delegation.

Representatives of companies from sectors like automobile and motorcycle parts, real estate, construction, electrical appliances, garbage management, medical equipment, educational equipment & software, art & crafts and finance were part of the delegation.

The delegation included leader of Wenzhou International Investment Promotion Center, Executive member of Wenzhou Federation of Industry & Commerce, Chairman of Wenzhou Youth Entrepreneurs Association, Vice-Chairman of China Photoelectric Association, Vice-Chairman of Kids Shoe Association, Executive member of Energy Saving Association and entrepreneurs from various industries from Zhejiang, China. Teng Min Liang from Zhejiang TTN Electric Co Ltd., was leader of delegation and Sun Jian Qiang from JBON Control Industry who also represents CITIC in China were part of delegation.

The companies met 30 potential investors and entrepreneurs in Ahmedabad on June 7 in an investor summit and visited several factories to explore joint venture opportunities with Gujarat companies. Two companies from Gujarat who are already working with Zhejiang companies shared their experiences.