New Delhi: Chinese construction companies are gearing up to cash in on the opportunity offered by India's plans of investing over USD 1 trillion in infrastructure in the next five years, a Chinese Embassy official said on Friday.
"According to the India's draft 12th Five-Year Plan, India will invest USD 1 trillion in infrastructure development. The firms of both sides can strengthen cooperation and investment in this sector," Economic and
Commercial Counsellor in the Chinese Embassy, Peng Gang, said.
"Chinese enterprises are ready and showing keen interest to cooperate with Indian industry (infrastructure)," he added.
Growing building material demand in India offers huge potential for Chinese investments to cooperate in housing sector by bringing technology, equipment and construction material.
During the past three years, mutual investments have boosted 10 times and Chinese enterprises have completed infrastructure projects in India worth over USD 10 billion, he said while addressing a Sino-India building material press
The Sino-India bilateral trade, which was USD 63 billion in 2010-11, is increasing significantly, he said.
"From January to October this year, bilateral trade volume increased by 22 percent to USD 60.6 billion, maintaining a strong momentum of growth," the counsellor said.