Modi In Shanghai Tells Chinese CEOs To 'Make In India'

16/05/2015 8:18 AM IST | Updated 15/07/2016 8:25 AM IST

Prime Minister Narendra Modi today met top Chinese CEOs in Shanghai, China's biggest city and global financial hub, as part of the last leg of his three-day visit to the country.

"I have come to say to you Make in India," said Modi to the business leaders, who represent 22 companies worth trillions of dollars, with interests in investing in India.

The Shanghai stop is primarily a business one for the PM, who has pushed hard his 'Make In India' campaign for the past year since he assumed office. He signed 21 business agreements worth about $22 billion today. Later in the day he will also be visiting Fudan University and inaugurating a Centre for Gandhian Studies there.

modi shanghai arrival

PM Modi arrives in Shanghai on the last leg of his China visit.

Chinese CEOs appeared equally excited about the PM's campaign, making clear their business interests during the interaction with Modi on Saturday morning.

"We are excited about India. We are excited about Make in India and Digital India," said Jack Ma of Alibaba to PM Modi.

While Liang Wengen, Chairman of SANY, a Chinese multinational heavy machinery manufacturing, described how businessmen in China were "full of hope about India" because of its "dynamic work force and huge market", CEO of Harbin Electric Zou Lei told the PM that his company was interested in taking advantage of the Make In India campaign and "bring more light" to India.

President of Xiaomi Lin Bin, which is the world's third-largest smartphone distributor, said that he had big plans for India, pledging his support for the Indian PM's campaign.

Modi on Saturday described his "5Fs formula" for inviting Chinese CEOs to produce goods in India — farm, fibre, fabric, fashion, foreign. "India and China can together give something to the world," he told the business leaders.

Shortly afterwards, he addressed both Indian and Chinese businesspersons at the India China Business Forum, where he said that India offers historic opportunity for the Chinese industry.

"We are constantly improving the ease of doing business in India," he said, calling China the "factory of the world" and India "the back office".

"Together we can bring about progress and prosperity for both our peoples," he said. The forum concluded with 21 business agreements signed between the two countries worth $22 billion.

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