M A I N   N E W S

India, China agree to cooperate in energy, railways, IT sectors
Tribune News Service

Planning Commission Deputy Chairman Montek Singh Ahluwalia and Chairman of National Development & Reform Commission of China Zhang Ping after signing a pact in New Delhi. — PTI

New Delhi, November 26
India and China today signed four MoUs in the areas of energy efficiency, railways, planning and IT.

The memorandums of understanding were signed during a day-long second 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.

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

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

Montek Singh Ahluwalia, deputy chairman, Planning Commission, invited Chinese investment in infrastructure in the areas of railways, roads and power. He also underlined the need to balance trade between the two countries which stands at $ 74 billion.

Ahluwalia mentioned that while the current trade growth is driven by China’s exports of project equipment mainly in infrastructure, there is a need for strong vendor support for maintenance of imported equipment.

In private sector, MoUs were signed between Reliance Power and Guangdone Mingyang Wind Power Industry Group Co Ltd for a 2,500 MW 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 million Anpara Phase-II Power projects (4X660 MW).

Montek invites Investment

Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, has invited Chinese investment in infrastructure in roads and power sectors. He also underlined the need to balance trade between the two countries which stands at $ 74 billion.

Reliance inks power MoU

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