Several Chinese business groups are looking to make big investments across sectors in India in the coming months, sources said even as President Pranab Mukherjee on Wednesday nudged Chinese entrepreneurs to invest in Narendra Modi government's flagship projects such as smart cities and Digital India. 

 

"We can expect Chinese investments over next few months to surpass their total investments made during the past year," said an official who requested not to be identified. Shanghai Automative Company, renewable energy firm Chint Group, chemicals firm Sopo Group, manufacturing sector major Ding Shen and Shanghai Electric Company are among firms looking to make substantial investments in India, sources said. 

 

Besides, China's biggest industrial park developer CFLD looks to set up 10 industrial parks in India and has already applied for loans from BRICS Bank while ecommerce giant Alibaba Group plans to raise its stake in Paytm to 70% from 30% and may also tie up with Mudra (Micro Units Development & Refinance Agency Ltd) Bank, which is being set up by the government for a payment service similar to the Chinese firm's Alipay, sources said. 

 

A glut in Chinese economy is prompting business tycoons of Asia's largest economy to invest abroad and India is clearly a top destination given its fast growth and huge potential. These firms are looking at states with better infrastructure and business environment such as Gujarat, Andhra Pradesh, Tamil Nadu and Maharashtra, sources said. 

 

However, industry sources here rued that delay in granting business visas to Chinese nationals are delaying big-ticket investments, which would also help reduce the huge trade gap between the two Asian giants. 

Please contact us in case of Copyright Infringement of the photo sourced from the internet, we will remove it within 24 hours.