China will bid aggressively to bag key Indian Railway infrastructure projects during its premier Xi Jinping’s visit to India
नई दिल्ली New Delhi: China will bid aggressively to bag key Railway infrastructure projects from India when its premier Xi Jinping meets Prime Minister Narendra Modi during bilateral level talks in New Delhi starting from today. On the agenda is to provide India with a cheaper and reliable option for high speed travel by using the state-of-the-art bullet trains and also help India to modernise its railway stations in line with global standards.
China, which is looking to outsmart Japan which has committed investments to the tune of $38 billion in India during Narendra Modi’s recent visit to Tokyo, would bring in a clutch of its Railway officers and companies offering modern railway services to strike deals with India. Agreements are likely for investments in industrial parks, infrastructure, energy and railways sectors.
Sources in the Ministry of External Affairs said that Beijing has decided to scale up investments in India regarded widely as the most safe investment destination and with this in mind Xi is expected to be accompanied by a large business delegation of 135 Chinese CEOs.
“China is considering investing in India’s ambitious plan to build high-speed railways, including bullet trains. India has already invited China to modernise railway stations,” said the official quoted earlier.
China is also expected to ask India to hand over certain railway corridors for it to build, develop and maintain high speed railway lines. While Japan bagged the Mumbai-Ahmedabad first bullet train project, Chinese officials have evinced interest in Chennai and Bangalore and Bangalore-Mumbai corridors to build high-speed trains.
The investments by China are aimed at addressing India’s concern of mounting trade deficit which averaged $35 billion in the total $ 66.4 billion trade last year. With a huge cash surplus, China has high appetite for investments. Its Outbound Direct Investment (ODI) last year crossed $90 billion. Of this India accounts a paltry $ 400 million so far.