India, China ink 11 MoUs entailing $5.2 billion investment

Giving a fillip to the economic ties between the two countries, India and China today inked 11 agreements entailing investment of over $5 billion (about Rs27,865 crore).

The memorandums of understanding were signed during a day-long 2nd India-China Strategic Economic Dialogue here. The first agreement was signed between the Planning Commission and Chinese planning body National Development and Reforms Commission (NDRC) for undertaking joint studies in economic policy research and development planning.

The MoUs were also singed to encourage cooperation between India's Bureau of Energy Efficiency and NDRC. Another MoU was between Indian Railways and China's Ministry of Railways for enhancing technical cooperation in the railway sector.

Another agreement was inked by India's IT industry body NASSCOM and China Software Industry Association (CSIA) for enhancing cooperation in IT and ITES sector.

In private sector, MoUs were signed between Reliance Power and Guangdone Mingyang Wind Power Industry Group Co, Ltd for a 2,500mw renewable energy project envisaging an investment of $3 billion with project financing from China Development Bank.

Lanco Group has entered into an agreement with China Development bank for financing $600 billion Anpara Phase-II Power projects (4X660MW).

NIIT and Province of Hainan joined hand to set up an IT technology park in Hainan with an investment of $800 million.