Study Material | Test Series
Drishti IAS
call1800-121-6260 / 011-47532596
Drishti The Vision Foundation
(A unit of VDK Eduventures Pvt. Ltd.)
mains Test Series 2018
China Signs 3 Pacts for Gujarat
Sep 18, 2014

India and China signed three pacts in Ahmedabad, just after the arrival of Chinese Xi Jinping on a three-day visit to India. Xi is accompanied by his wife Peng Liyuan and a delegation of senior party and government officials. The top leaders of the two countries had a brief meeting before heading for the signing-in ceremony of the pacts which are aimed at giving boost to Chinese investments in Gujarat.

The three pacts include making Ahmedabad and the Chinese city of Guangzhou as sister cities, setting up of industrial parks in Gujarat. The agreement between Guangzhou and Ahmedabad provides for extending cooperating in the fields of education, culture, sports, urban planning, waste water management and public health.

The agreement, aimed at developing industrial parks, was signed between China Development Bank (CDB) and Industrial Extension Bureau of Gujarat. It envisages promoting the bilateral trade and setting up of industrial parks in the state, especially for electronics and electrical goods manufacturing. The China Development Bank will extend credit with low interest to the companies setting up their plants in the sectors like electrical, electronics, plastics and plastic processing.

The 3 MoUs:

1. MoU establishing Sister Province relations between Guangdong, China and Gujarat, India which covers cooperation in economy and trade, environmental protection, public policy education, health, science and technology, tourism and culture.

2. MoU between the cities of Guangzhou, China and Ahmedabad, Gujarat, India for closer cooperation between the local authorities of the two cities, which will facilitate engagements in the fields of economy and trade, environment protection, public policy, education, health, science and technology, tourism and culture. Knowledge sharing will be done through delegation visits, institutional meetings and sharing of experiences in areas of mutual interest.

3. MoU between Industrial Extension Bureau (iNDEXTb), the nodal agency of Government of Gujarat for investment promotion, and China Development Bank, under which iNDEXTb will assist Chinese investors in obtaining required clearances and creating infrastructure facilities in the industrial parks.

Gujarat has received Rs. 700 crore investment from two Chinese firms which have opened their factories in Gujarat. Now, in the proposed industrial park, likely to come up near Vadodara, many companies will set up their factories and Gujarat authorities will facilitate them.

All these MoUs will facilitate exchange of ideas and services between Gujarat and China.


Helpline Number : 87501 87501
To Subscribe Newsletter and Get Updates.

http://www.drishtiias.com/upsc-current-affairs-article-China-Signs-3-Pacts-for-Gujarat