China is looking at opportunities to set up industrial parks in India.
A team from China’s Commerce Ministry is expected to be here soon to scout for the same, Union External Affairs Minister Salman Khurshid said here while addressing a press conference after his return from Beijing.
Khurshid said there was “prompt agreement” between the two countries on Chinese investment and on setting up the industrial parks.
“We have promised that the Ministry of Commerce can visit India soon and look around to see which other (areas) — other than those already identified could — be suitable for Chinese industrial parks,” Khurshid said.
This is an attempt to set right the existing trade imbalance (in favour of China) between the neighbours.
Special concerns
On whether China would be allowed to invest in all sectors of the economy, Khurshid said this was something that concerned the Finance and Home Ministries.
“They have special concerns — not relating to China alone, but to sectors themselves, and also from different parts of the world. Those are things that are reviewed from time to time. I think we should not have a theology on this,” he said.
Khurshid indicated that it had been decided to take “a little bit of a pause” on the earlier Chinese suggestion of a regional trading arrangement.
“India felt ‘let the trade imbalance be addressed upfront as an urgent priority’. Then, we can move to the next stage, which is the regional trading arrangement,” Khurshid said.
Khurshid indicated that Beijing and New Delhi were likely to sign agreements on micro-irrigation and waste-water management during Chinese Premier Li Keqiang’s visit starting May 19.
“The Chinese side responded very positively to a memorandum of understanding on visa simplification. This may or may not be ready in time for signing during this visit, but it can be done when our Prime Minister visits China,” Khurshid said.
Manmohan Singh is expected to visit China soon after Premier Li arrives, although no dates have yet been announced.