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Ahead of Vice-President Hamid Ansari’s visit to Beijing, the Government on Wednesday gave an in-principle approval for a memorandum of understanding (MoU) between India and China for setting up industrial parks in the country.
The details of the agreement will be available only after the signing of the memorandum, Law and Telecom Minister Ravi Shankar Prasad said after a meeting of the Cabinet headed by Prime Minister Narendra Modi.
Sources said during discussions on setting up of the industrial parks by China, sites in Uttar Pradesh, Haryana and Karnataka were identified but security concerns stalled their finalisation.
According to sources, China is interested in investing in India in sectors such as manufacturing.
On a visit to celebrate the 60th year of Panchsheel, which once formed the bedrock of China-India ties, Vice-President Ansari will begin his five-day journey to China tomorrowfrom the historic city of Xian.
Commerce and Industry Minister Nirmala Seetharaman will accompany the Vice-President.
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