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India signs US$22bn-worth of deals with China

India and China have signed more than 20 business and trade deals

India signs US$22bn-worth of deals with China

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India has signed US$22bn worth of bilateral trade deals with China following a three-day visit to the People’s Republic by India’s prime minister Narendra Modi.

The 26 agreements signed on 16 May cover boosting bilateral trade in areas including ports, renewable energy and finance, as well as entertainment, telecommunications and investments in industrial parks, according to Reuters.

Speaking at an event in Beijing on Saturday, Modi told delegates India’s was “ready for business”, and encouraged Chinese companies to invest in India.

Talks between Modi and China’s prime minister Li Keqiang also included ways to even out the skewed trade deficit that favoured China by US$36.86b in 2013.

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