In order to fast track the special economic zones and industrial zones projects, a high-level Chinese delegation is all set to visit India very shortly to fast track and finalize plans for multibillion-dollar in these tax free enclaves. The Chinese government is reportedly encouraged by the Prime Minister's recent call to the global business community to invest in India and make in India and sell anywhere in the world. In this connection an 18-member delegation comprising top Chinese investors and industrialists are scheduled to head to India on August 18 to make a final visit to some of the sites offered to set up Chinese Industrial Parks. The delegation would visit Delhi, Gujarat and Mumbai as both the countries have already signed MoU which outlined the work for setting up four such industrial parks to rebalance the ballooning trade-deficit averaging over $35 billion a year.
As per reports emanating from various Chinese sources, investments in the Parks are expected to be announced during the visit of Chinese President Xi Jinping to India next month. As a matter of fact, India has long wanted a greater market access to cut the deficit, and pushing through a firm agreement to bring Chinese investment into India, it would also signal the intent of Modi's push to expand manufacturing and revive the country's economy. Prior to this, efforts to set up such parks have stalled, partly because of security concerns about Chinese companies and that the India-China bilateral trade totaled $ 65.47 billion last year and that the current Chinese investment in India stands at $1.1 billion, but the lion share of the funds has been invested in Gujarat.