India welcomes Chinese investment: PM

October 22, 2013 13:16

Ahead of his three-day visit starting today, Prime Minister Manmohan Singh has welcomed Chinese investment and the proposal to establish a Chinese Industrial Park in India to boost bilateral trade ties.

In a written interview with Chinese media based in Delhi, Singh said India faces an unsustainable imbalance in its trade with China and one of the ways of overcoming the trade deficit is for India to attract larger flows of foreign direct investment (FDI) from China.

"We are happy that more Chinese firms are looking to India as an investment destination. During his visit to India in May 2013, Premier Li Keqiang suggested that we look at the option of establishing a Chinese Industrial Park in India where companies and firms from China could cluster together. We welcome this idea," state-run Xinhua news agency quoted him as saying.

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