'China wants red carpet, not red tape, for investors in India'

China has offered to align its 'Made in China' campaign with Prime Minister Narendra Modi's 'Make in India' initiative to facilitate the flow of Chinese capital and industry into India, but demanded "red carpet" instead of "red tape" for its investors.

Yadong (China): China has offered to align its 'Made in China' campaign with Prime Minister Narendra Modi's 'Make in India' initiative to facilitate the flow of Chinese capital and industry into India, but demanded "red carpet" instead of "red tape" for its investors.

"New strategy Made in China 2025 features innovation and high end manufacturing. It can be aligned with PM's Make in India plan," said Le Yucheng, Chinese Ambassador to India.

Interacting with the Indian media ahead of the arrival of the first group of Indian pilgrims to travel to Kailash Manasarovar in Tibet via the newly-opened Nathu La Pass in Sikkim on June 21, Le said Chinese investments in India accounted for only a few hundred million dollars.

He, however, said there is a great passion and enthusiasm in Indian states to attract investments from China.

"We want more efficiency in attracting investment and more red carpet instead red tape. We need to catch up and make up for the loss," he said.

China has over capacity in its industry.

"We need to move out part of them to our neighbouring countries which are in need of it. India needs Chinese capital industrial technology. Why not invite Chinese investments? Indian side is still long way to go to attract more investments," Le said.

"I believe more and more Chinese companies are coming. You need to set incubation centres or contacting points and more incentives to attract Chinese investments not just for looking or problems," he said.

At the same time, he said, China is happy with e-Visas for Chinese tourists announced by Modi during visit here in May.

"We are happy with e-visas and relaxation of security clearances and happy with the efficiency of attracting Chinese investments by setting up single window clearance. Each state from all over India are competing to get the Chinese investments," he said.

"Security clearance issue now is partially have been solved," he said.

Le said: "AP (Andhra Pradesh) is becoming (the) focal point for Chinese investment. Many investors are directly flying there. I am amazed one trip by Chief Minister Chandrababu Naidu is brining so many investment which is a good sign."

He said one of China's richest man, Wang Jianlin, who heads real estate giant Wanda group, plans to invest USD 5-10 billion in industrial park in Maharastra.

Wang has promised to invest USD 5-10 billion in the years to come in one of the proposed industrial parks. He is going to build five such kind of parks, if land is made available.

"It is very ambitious plan but very feasible. He will come again one and half month later to India to discuss the details of the project," he said.

Similarly, Alibaba's Jack Ma and phone maker Xiaomi are stepping up investments in India, he said.

He said both the countries are planning to enhance flight connectivity. Mumbai-Beijing flight will become operational by October and Chengdu-Bangalore flight will be restarted.

There will be more chartered flights to ferry Chinese tourists, he said.

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