India looking for more investment from China: Foreign Secretary

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Namrata Kath Hazarika | 14 Dec, 2010
Foreign Secretary, Nirupama Rao Monday said that India is looking for more Chinese investment, which which would help to develop infrastructure in the country.

"We need more investment from China to India especially in the growing infrastructure sector. And, the kind of achievement that China has been able to record in this sector when it comes to the building of the infrastructure is good for India," Rao said in a FICCI conference in New Delhi.

She emphasized the need to go beyond the unsettled boundary issues and move towards "congruence and cooperation" in the bilateral relationship in a spirit of "competition and collaboration".

Further, India needs greater synergy and dialogue to explore the lessons that we could draw from the Chinese model of infrastructure development for the benefit of the business and engineering community of the countries,” she said.

Rao added that India and China share an evolving relationship where people are at the heart of any relationship. Further, India has a very rational approach towards China.

"As far as the global economy is concerned, the way we have performed in the wake of the global economic recession and the kind of challenges we have faced and the manner in which we were able to turn those challenges into opportunities have penetrated both our economies," Rao said.

In addition, Dr. S. Jaishankar, Indian Ambassador to China, also said that India's market access in China is limited, which likely needs more serious engagements.

"A long-term economic strategy requires growing our cooperation in a more equitable manner. In fact, both Indian and Chinese markets require companies to localize if they are serious about a long-term relationship," he said.

"We are prepared to extend the support and do the hand-holding necessary to make that happen." Jaishankar added.