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Narendra Modi visit to China may yield $10 billion investment proposals

There is also the possibility that both sides may link their ambitious connective projects, China's Silk Road and India's Mausam, to create tangible benefits for both sides.

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Elaborate preparations are underway to make Prime Minister Narendra Modi's first China trip, scheduled second week of May, a grand success. Officials from both sides are burning the midnight oil to put up plans for signing of investment proposals worth US $10 billion, besides arranging symbolic rituals such as a "chai-pe-charcha" (discussion at tea) for the PM with Chinese students and members of general public.

Like Chinese President Xi Jinping, who began his journey last September from Ahmedabad, Modi will begin his China trip with a visit to Goushi town of Shaanxi province, the home of Xi Jinping. The town is also the birthplace of 7th century Chinese traveller, Buddhist monk, scholar and translator Hsuan Tsang, who visited India.

Last September during Jinping's visit, China committed to invest US $20 billion in India over the next five years. Despite border tensions often keeping both sides on tenter-hooks, officials here believe that investments are coming as per plan.

The progress on two dedicated industrial parks in Gujarat and another near Pune is quite satisfactory, they believed. At the site in Chakan near Pune, Chinese companies have already invested US $100 million and 30% land acquisitions have been completed. Chinese companies have set a target of $3 billion by 2030 in three stages for these two parks.

There is also the possibility that both sides may link their ambitious connective projects, China's Silk Road and India's Mausam, to create tangible benefits for both sides.

India remains suspicious of Beijing's mega initiative to revive the ancient Silk Road and Maritime Silk Roads (MSR) involving 60 countries in Asia, Europe and Africa. The ambitious proposal was mapped out by the Chinese President when he visited Kazakhstan a few years ago. Since then, as the first part of this plan, China and Kazakhstan have already launched an international freight train.

Le Yucheng, Chinese Ambassador to India, told media that besides the freight train starting, construction of Line D of the China-Central Asia natural gas pipeline project has already begun. "The eastern route of the China-Russia natural gas pipeline project will be constructed very soon and the agreement on the western route will be signed shortly," he said.

India's Mausam project, aimed at re-establishing India's ancient maritime routes with its ancient trade partners in and along the Indian Ocean, was launched in June 2014. Another "Spice Route of India" project is aimed at reviving the ancient network of sea routes that linked Asia, Europe and Africa. Besides, New Delhi is also planning to develop some new projects in the Arabian sea, including Project Seabird, an ambitious naval infrastructure programme near Karwar in Karnataka.

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