Govt may look at industrial park MoU with China

Ahead of the visit of Vice-President Hamid Ansari to Beijing, the government on Wednesday gave an in-principle approval for a memorandum of understanding (MoU) between India and China for setting up industrial parks in the country.

The details of the agreement will be available only after the signing of the memorandum, Law and Telecom Minister Ravi Shankar Prasad said after a meeting of the Cabinet headed by Prime Minister Narendra Modi. “Cabinet on Wednesday has approved in-principle an MoU with China with regard to establishment of industrial parks. The details and the contours of the MoU would be given once it is signed,” he said.

Sources said during discussions on setting up of the industrial parks by China, sites in Uttar Pradesh, Haryana and Karnataka were identified but security concerns stalled their finalisation.

On a visit to celebrate 60th year of Panchsheel, which once formed the bedrock of Sino-India ties, Vice President Hamid Ansari will begin his five-day journey to China on Thursday. 

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