'Chinese companies keen to invest in infra projects in India'

Mumbai: Chinese firms are looking to invest in India's infrastructure projects, a senior official said here"More Chinese firms are looking to invest in infrastructure projects.

Our target for bilateral between India and China is USD 100 billion in near future compared to the present USD 70 billion," China's Counsel General in Mumbai, Yan Huang, told reporters afterinaugurating the twin China trade show here.

Addressing the CEOs of leading companies and Indiantrade delegations at the three-day 'China Home Life India and China Machinex India 2015' trade show, Yan Huang said, both India and should increase the bilateral India is poised for a big leap in the global economyIn spite of the recent depreciation of Yuan fluctuation in Indian currency, both the nations are of keeping up the upward pattern in the bilateral during 2016, he said.

The Modi-led government's 'Make in India' and Smart City projects will provide big opportunity Chinese companies, who are strong in development, Huang said China-based construction equipment manufacturer, Group, has recently announced plans to invest USD 3 developing renewable energy assets in India.

Chinese companies already have a huge presence in the infrastructure, construction, electronics and solar marketHuang also called for more direct flights between China and India and easing of rules for obtaining visa to increase the business activities.

The recent reduction in the interest rate cut announced by the Chinese government and slowdown seen in the global economy will definitely help Indian importers, Meorient Exhibition Ltd, Shanghai CEO Binu Pillai said.

"I expect a total business of Rs 16,000 crore through these displays against Rs 8,000 crore seen in 2014," Pillai said.

These manufacturers and traders have come from Ningbo, Shanghai and Wenzhou provinces of China. It has been ably supported by Chinese government.

The trade show is witnessing around 750 big Chinese companies showcasing high-end plant and machineries used in packaging, 50 companies are displaying machine tools, 150 companies food processing equipments and 200 companies havedisplayed textiles and garments products, furniture and kitchen appliances.