Ahead of Prime Minister Narendra Modi and Chinese President Xi Jinping's second 'informal summit' in Chennai, 129 Memorandum of understanding (MoUs) were signed between the Indian and Chinese companies. The MoUs were signed for sectors like - agri-related products, minerals, textiles, food-processing, yarns, minerals etc.
Highlighting China and India's close ties, Chinese representatives said that the relationship between the two countries was as eternal as the Ganga river.
Currently, both the countries are focussing on trade and India is China's largest trading partner in South Asia and the Indian companies are expanding in the Chinese market with a cumulative investment of nearly $1 billion.
Representatives of both the countries reiterated that Chinese investment in India and the Indian investment in China has grown many folds in the past few decades with the Chinese players like Xiaomi, Oppo becoming household names in India.