China offers to finance 30 per cent of India’s infrastructure development plan

That’s the biggest such offer by any one country, exceeding the funds contributed by Japan, which has traditionally financed some of India’s most ambitious projects.NEW DELHI: China wants to fund a big chunk of India’s infrastructure development even though previous attempts have been rebuffed by a government nervous about allowing its neighbour to enter critical areas such as telecom or power over security worries.

But that hasn’t discouraged the Chinese from making a concerted bid that envisages its companies and workers getting deeply involved in upgrading India’s decrepit rail, road and power infrastructure besides telecom.

A Chinese working group submitted a five-year trade and economic planning cooperation plan to the Indian government in the first week of February, offering to finance as much as 30 per cent of the $1trillion targeted investment in infrastructure during the 12th Five-Year Plan (2012-17) to the tune of about $300 billion.  Read more


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Categorised in: Infrastructure, Sector News

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