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Modi in China: Prime Minister likely to sign $10-billion deals

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By NewsGram Staff Writer

​Prime Minister Narendra Modi is planning to seal deals worth $10 billion on the first day of his trip to China, according to the reports by a leading English daily of the country on Thursday.

Talking about his plans during the China visit, the Global Times said, “Both the countries are likely to sign deals worth $10 billion during Modi’s first visit as prime minister. The visit will also include going to Beijing and Shanghai as he attempts to attract investments for Indian manufacturing and infrastructure.”

Modi arrived at Xian,capital of China’s Shaanxi province, today. This is the first leg of his three-nation tour, which will also include Mongolia and South Korea.

He is scheduled to meet Chinese President Xi Jinping on Thursday in Xian.

“It is a rare practice for a Chinese leader to receive a foreign leader outside the capital city Beijing,” told Jiang Jingkui, director of the Department of South Asian Languages at Peking University to the Global Times.

“It has been less than a year since Xi’s maiden visit to India in September, when he went to Modi’s hometown (Ahmedabad) in Gujarat. This makes Xi’s invitation to Modi to visit Xian a reciprocal gesture of goodwill,” Jingkui added.

The differences between both the countries can be overcome by the increasing economic exchanges which have drawn the two emerging Asian economies closer than ever, the report examines.

India has also signed up as a founding member of the China-initiated Asian Infrastructure Investment Bank.

Indian and China are the biggest trading partner with bilateral trade of $70 billion and India’s trade deficit with China rose to $37.8 billion last year.

According to the report, Modi is expected to bridge this gap during his three-day China visit by tapping into the potential of the Chinese market.​

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