After Japan, the government is now set to woo China. Sources tell CNBC-TV18 that the government may ink many memorandum of understanding (MoUs) during Chinese President Xi Jinping’s India visit in mid-September.
According to sources, Jinping’s visit may pave way for Chinese truck & bus manufacturing company Foton’s entry into India.
Sources indicate an announcement is likely on a proposed Chinese industrial park related to auto at Chakan, Maharashtra and Foton could be one of the investors.
As China is learnt to be interested in India's high-speed rail projects, the government may also ink MoU to upgrade rail tracks for high-speed trains and construction of train passenger terminal.