'Make in India', PM Modi exhorts Chinese companies

17th May 2015
'Make in India',   PM Modi exhorts Chinese companies
Indian Prime Minister Narendra Moodi greets Alibaba Founder-Chairman Jack Ma when he met heads of leading Chinese corporations in Shanghai, May 16 2015

Shanghai, May 17 2015: On a day when  India and China inked 26 deals worth more than $ 22 billion, Prime Minister Narendra Modi told   CEOs of 22 Chinese businesses: “You are the factory of the world, whereas, we are the back office of the world. You give thrust on production of hardware, while India focuses on software and services....India is ready for business. You must be sensing the winds of change in India.  Come and feel the same"
Alibaba Group Founder Chairman Jack Ma responded:  “We are excited about India. We are excited about Make in India and Digital India.”  Alibaba's B2B portasl has over a million members in India. The company  recently  picked up a 25 percent stake in Indian mobile commerce platform Paytm, for $ 375 million.  
The company is said to be in serious discussion with  Indian mobile handset maker Micromax  and  online retailer Snapdeal to invest in these companies. 
Other CEOs of Chinese companies  who met Modi included, China Light and Power Chairman Yan Zhiyong, Xiaomi President Lin Bin, Huawei Chairman Sun Yafang and  Shangri-La Asia Limited Chairman Kuok Khoon Chen.