Deals worth $22bn in the kitty, Narendra Modi says 'We're ready to do business,' to China

In Shanghai, for the last leg of his 3-day trip of China, Prime Minister Narendra Modi did what he does best, speak business to over 20 of the most influential Chinese businessmen. Calling for a 'harmonious partnership' between India and China, Modi today said it was essential for economic development and political stability of Asia.

Addressing CEOs at the India-China Business Forum, Modi said both India and China have potentials of growth and problems of poverty "which we can tackle together. I am personally committed to take the co-operative process forward".

Highlighting the significance of a sound relationship between two of Asia's major economies, he said: "Harmonious partnership between India and China is essential for economic development and political stability of the continent."

He further said: "This industrial partnership of China and India can bring about greater investment, employment and satisfaction of our people."

As many as 21 agreements were signed between Indian and Chinese firms worth $ 22 billion at the India-China Business Forum.

Asking Chinese companies to take the "historic opportunity" to invest in India, Modi said: "We have committed ourselves for creating and improving the business environment. I can assure you that once you decide to be in India, we are confident to make you more and more comfortable."

Many Chinese companies have the possibility of investing in India to take advantage of India's potentials. The potential lies in manufacturing, processing as well as in infrastructure, he added.

Highlighting the steps taken up by his government to improve ease of doing business, he said: "We are making the taxation system transparent, stable and predictable. We have removed lot of regressive taxation regimes."