Look at the 12 MOU's signed with Chinese investment of USD 20 Billion over the next 5 years..They are varied and will reduce trade deficit, help in space exploration, improve the country's sagging infrastructure & help in setting up industrial parks:
What the 12 MoUs between India and China are about
India and China today signed 12 MoUs in New Delhi on second day of Chinese President Xi Jinping's visit to India.
1. MeoU between the MEA India and the Ministry of Foreign Affairs China on opening a new route for Indian pilgrimage (Kailash Mansarovar Yatra) to the Tibet Autonomous Region of the People's Republic of China. The MoU provides for conducting the annual Kailash Manasarovar Yatra through Nathu La Pass in Sikkim in addition to the existing Lipulekh Pass in Uttarakhand. The route through Nathu La will augment the capacity and reduce the hardship and journey time enabling many more pilgrims in particular aged pilgrims to undertake the Yatra.
2. MoU between Ministry of Railways, India and the China on strengthening cooperation in Railways. Under the MoU, both sides have agreed to enhance cooperation in the Railway sector in following areas: (i)speed-raising, (ii)studying feasibility of cooperation in High-Speed Railways, (iii)Heavy-Haul transportation training of Indian Railway personnel, (iv)Redevelopment of Railway stations, (v)setting up of a Railway University in India, etc.
3. Action Plan between Ministry of Railways, India, and the National Railway Administration, China on strengthening cooperation in Railways. It provides specific projects for cooperation in railway sector.
4. Five year Trade and Economic Development Plan between Ministry of Commerce and Industry of the Government of the Republic of India and the Ministry of Commerce of the Government of the People's Republic of China. It lays down a medium term roadmap for promoting balanced and sustainable development of economic and trade relations between China and India, on the principle of equality and mutual benefit.
5. Agreed Minutes of the Tenth Session of India-China Joint Economic Group. Both sides held detailed discussions on issues to promote broad and deep bilateral trade and economic cooperation between India and China and agreed to undertake measures to achieve sustainable and balanced trade. Specific measures to enhance market access to Indian products such as agricultural, pharmaceutical and export of services will be expedited.
6. Agreement on Audio-Visual Co-production between The Ministry of Information and Broadcasting, India and the State Administration of Press, Publication, Radio, Film and Television, China. Pool creative, artistic, technical, financial and marketing resources to co-produce films. It would help Indian audio-visual products to gain greater market access.
7. Agreement on mutual administrative assistance and co-operation in Customs matters. Will help in enhancing cooperation to fight trans-border economic crimes and custom offences through sharing of information. It would also facilitate trade through enhanced customs cooperation.
8. MoU between ISRO and China National Space Administration on Cooperation in the Peaceful use of Space. Cooperation in the exploration and use of outer space for peaceful purposes, including research and development of scientific experiment satellites, remote sensing satellites and communications satellites.
9. MoU between the Ministry of Cultures on strengthening the exchange and cooperation between cultural institutions.These cultural institutions include museums, archaeological organizations and performing art centers.
10. MoU between National Book Trust, India and the State Administration of Press, Publication, Radio, Film and Television of China. China will participate in the New Delhi World Book Fair 2016 as the Guest of Honour Country. The Agreement will help provide greater access to their nationals of publications of the other side.
11. Work Plan on Drug Administration and Cooperation Between China Food and Drug Administration of the People's Republic of China And Ministry of Health & Family Welfare of the Republic of India.The two sides will carry out cooperation in fields of drug standards, traditional medicine and drug testing, etc. Both sides will exchange delegations to enhance cooperation in this area.
12. Agreement on establishing Sister City relationship between Mumbai and Shanghai. It will enhance people-to-people exchanges fostering greater mutual understanding.