Narendra Modhi deal with China $ 22 billion

Indian Prime Minister Narendra Modi pitched the 'Make in India’ initiative to China’s top businessmen on Saturday, asking them to take advantage of his nation’s changed economic environment which is aimed at turning it into an export powerhouse. He signed a contact with China business deal $ 22 billion deal.

Indian and Chinese firms signed 21 agreements officials said were worth a total of more than $22 billion in Shanghai on Saturday, witnessed by visiting PM Modi. A list circulated by Indian officials showed many of the contracts were for Chinese banks to finance Indian firms, and also included deals in the telecom, steel, solar energy and film sectors.

Modi highlighted the complementarities of the two Asian countries by saying Chinais the factory of the worldandIndiais the global back-office. Modi met top Chinese CEOs, including Alibaba's Jack Ma, and invited them to join the initiative.