Chinese companies eyeing Gujarat for investments

Beijing, Jun 17:

, which has emerged as a preferred destination for big-ticket investments with improved infrastructure and conducive business environment, is holding talks with CEOs of top

companies who are keenly interested in boosting ties with the booming Indian state.

During a recent visit by a 15-member delegation from Gujarat, which held two road shows in Shanghai and Beijing, the state received enthusiastic response from Chinese majors in sectors like automobile, infrastructure, heavy engineering, power, renewable energy and textiles.

The delegation, led by Bharat Lal, Principal Resident Commissioner, Government of Gujarat, witnessed a very strong participation in its road shows from Chinese investors and companies looking towards India, underlining the growing ties between two of the world's fastest growing economies.

With huge increase in the production of cotton in Gujarat, textile industries of China are also working out strategy to set up their units in the state to reduce the cost on transportation of raw material as well as finished products which they sell in Asia, Gulf countries and Europe.

"In the changing economic scenario, Gujarat with its excellent infrastructure and connectivity provides a great alternative to Chinese companies looking at reducing cost with an easy access to Gulf and European markets," according to a press release. They are looking for partners in the State and this provides huge opportunities to local businesses and workforce.

PTI