Niti Aayog tells Chinese businesses to invest more in India

New Delhi: Niti Aayog Vice-Chairman Rajiv Kumar on Monday urged Chinese businesses to look at India as an export destination from where they can sell their products to various countries. “We will welcome all export-oriented investment from China. I am also pleased to hear the kind of opportunities that we can have for the Chinese investment in our infrastructure, in our railways, in our roads, ports, airports, everywhere, even in our real estate,” Kumar said at the India-China Economic Cooperation Forum organised by the CII here.

Elaborating on the export-oriented investment from China, he said it is akin to American investment in China which is all about exporting back to America. “Now, it is time therefore for the Chinese companies for investment in India, make in India and the export from India, whether it is back to China or is to Africa or to the US, as these goods will go from India. And I think that’s the investment that we are really looking for because that will be helping us both in terms of our economy generation to make in India and increasing our exports,” he said.

Kumar also said that India and China, through this forum, have agreed to identify non-tariff areas so that it becomes easier for the Indian companies to make inroads into China. “In several areas, especially for India, like say for pharmaceuticals and IT, the market access to China is affected by procedures and licences. So, we have agreed that we will look at these non-tariffs measures and try to address them so that we can achieve better market access,” he said.

He also assured the Chinese investors and businesses all kind of help the Indian government can lend for them to do business here, saying they can approach Niti Aayog as and when they feel there are issues to be addressed. “I want to assure my Chinese friends and the Chinese companies…we have the CII, and the Indian companies can become the joint partners in JVs for bringing Chinese companies in India and making it easier for them, facilitate their entries,” said the Niti Aayog vice-chairman.

He also emphasised that the two countries can easily reach the $100 billion bilateral trade within the next two years with the governments and industries in both the countries working hand in hand. “We can surely reach the target of $100 billion bilateral trade in the next two years. And I am sure that we will surpass the target of $20 billion foreign direct investment between the two countries in the fairly new future in the next two-three years,” he added.

Meanwhile, five memorandum of understanding were exchanged during the occasion. These include, between CII and China Association of Circular Economy, China Datang Technologies and Engineering and Gujarat Electricity Cooperation, and Beijing Membrance Technology and Client Nature Tech Enviro Protection. India-China bilateral trade stood at $87 billion during 2018-19.