Meeting of Hon'ble Finance Minister of India with Chinese Finance Minister 04/05/2017

PRESS RELEASE: Meeting of Finance Minister Shri Arun Jaitley with Chinese Finance Minister Xiao Jie on April 1, 2017, New Delhi

Finance Minister Shri Arun Jaitley had a good and productive meeting with Chinese Finance Minister Xiao Jie on April 1, 2017 on the side lines of the Second Board of Governors Meeting of the New Development Bank (NDB) at New Delhi.

2. The meeting afforded an opportunity to the two Finance Ministers to exchange views on several issues related to cooperation between India and China in the financial and commercial fields. Chinese Finance Minister noted the rapid growth of the Indian economy as an important opportunity for Chinese companies, whose presence in India has been increasing in recent years. He expressed the keenness of Chinese companies to invest in India, as part of the ‘Digital India’ and ‘Make-in-India’ initiatives.

3. Finance Minister Shri Arun Jaitley welcomed the growing Chinese investment in India and stressed that the new liberalized visa regime for e-Business visas would further facilitate Chinese businesses in India. He also noted that the process for employment visas for Chinese investors has been streamlined. In addition, a dedicated China Cell has been set up under the ‘Make-in-India’ initiative, which is evidence of India’s keenness to attract Chinese investments. He also stressed that the new GST regime will also assist Chinese investors by way of providing a simple and streamlined tax regime in the Indian market.