The formal inauguration of a Rs 1,000-crore plant of TBEA Energy (India) Limited, a Chinese transformer manufacturing company located nearly 30 km from Vadodara, by Chief Minister, Anandi Patel on Saturday, became an event to celebrate India-China relations, with leaders from both sides emphasising on how Gujarat can take the lead in attracting Chinese investments to India.
The event, that took place at Karjan, was attended by Ambassador of China to India, Wei Wei and China’s economic and commercial counsellor, Wang Hejun, along with the company’s chairman, Zhang Xin. Both sides agreed on the issue of strengthening economic ties in the energy, infrastructure and IT sectors between the two countries .
“In China, Gujarat is famous for its ancient civilisation, favourable investment environment and development prospects. We hope Indian enterprises can attract more and more Chinese business and investment to Gujarat, and at the same time, we too encourage Chinese companies to invest in Gujarat,” said Wei on a day when the Gujarat CM formally inaugurated a Chinese firm that was a result of an MoU signed between the Gujarat and the company during the Vibrant Gujarat Global Investors Summit in 2011.
“China is willing to work with Indian states, including Gujarat, to strengthen infrastructure cooperation in the field of railway, highway, water supply, power, telecom, etc. China also has intention and capability to help India expand manufacturing industry scale,” Wei said.
“India-China relations stand at a new historical starting point. We should further enhance the friendliness and harmony, and expand mutually beneficial economic cooperation,” Wei Wei said, adding that the value of bilateral trade has reached Rs 65.5 billion dollar, and by May 2014, the accumulative investment in India has reached 1.05 billion dollar. Wei also spoke on India’s willingness to realise the Bangladesh-China-India-Myanmar economic corridor, which can link railway link between India and China.
The CM was equally vocal about attracting Chinese investments in to Gujarat. “Gujarat’s extremely industry-friendly policies and attractive investment climate has made the state an attractive destination for Chinese industry. Recently, the visit of Chinese delegation to Gujarat has further strengthened ties,” Patel said.
“By strengthening relations, both India and China can benefit economically and contribute towards strengthening world economy… Successful commissioning of the plant is a great example of India-China relations in the energy sector,” Patel said.
The plant, which is the Chinese manufacturing major’s first foray in India, became operational in February 2014. Other than formally inaugurating the plant, Patel also flagged off a 765 KV transformer and three 765 KV reactors for Power Grid Corporation Limited.