India-China working groups to meet in May: Montek

Beijing: A high level Indian delegation would visit China in May to streamline mutual investment opportunities between the two countries and discuss steps to remove impediments in this regard, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.

A delegation headed by Planning Commission Member BK Chaturvedi would visit China next month to discuss investment related opportunities with Chinese officials, he told reporters after attending the Boao Forum for Asia in China.

He said the two countries formed working groups under the first India-China Strategic Economic Dialogue (SED) held in Beijing 2011.

The groups were tasked to make comparable and comparative studies on sectors like railways and water resources that could act as benchmark for both countries.

Four groups were set up to work on issues relating to infrastructure, energy, environment and high technology.

The fifth working group on policy coordination, he said, will attempt to remove obstacles for investment.

"This group is looking at what it is holding up investment. They have problems about visas. We do need on our own to make a very clear judgment. Are we in favour of Chinese companies going to India? My view is we should be in favour of them," he said.

The working group in India will study the problems and solutions of particular sectors and compare them with the studies conducted by the Chinese counterpart, he said.

"We are running a more and more open economy with integration with global economy. We are looking at a country that in 20 years times is going to be the largest economy in the world," Ahluwalia said.

Besides holding talks Zhang Ping, who is the head of China's National Development Reform Commission (NDRC), Ahluwalia also met China's Vice-Foreign Minister Cui Tian Kai.

"Zhang Ping expressed satisfaction that SED is taking off," he said.

On retrospective amendment to the tax law to deal with cases such as Vodafone, he said, "there is certain excessive reaction".

He left for India this morning after a three day visit to Boao, a coastal town in Hainan province.