Indian and Chinese companies signed Memoranda of Understanding worth over $2.4 billion on Wednesday at the India-China (Zhejiang) Business Cooperation Conference here.

Among the MoUs, the largest one was for $1.5 billion, signed between Chuangyuan Investment Co Ltd (Zhejiang) and Kiri Infrastructure (India) for the ‘India International Trade Centre’ in Gujarat.

The conference was organised by the Federation of Indian Chambers of Commerce and Industry and Zhejiang Federation of Industry and Commerce.

Speaking at the event, Amitabh Kant, Secretary in the Department of Industrial Policy and Promotion, said: “There are huge opportunities for Chinese investment in sectors such as infrastructure, projects in the National Investment and Manufacturing Zone, power and telecom equipment, hardware manufacturing, industrial machinery, agro and food processing, information technology and pharmaceuticals.”

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