Mukesh Ambani owned Reliance Industries (RIL) has inked agreements with two Chinese companies to sell salt and other materials worth $ 77 million to China Slat Import & Export Co and to Sumstar Group.
As many as 20 trade and trade finance pacts totaling $ 1.5 billion, were signed by domestic and Chinese firms during China’s commerce Minister, Gao Hucheng visit to India. Both the countries, i.e., China and India, agreed to take steps for addressing the issue of trade imbalance through greater cooperation in areas like pharmaceutical and IT targeting $100 billion in bilateral commerce.
Of the 20 MoUs, as many as 18 are of purchasing raw/finished materials between the partners, while one is for a $72.5 million financing agreement signed between Anil Aggarwal promoted SDP Services and the China Development Bank Corporation.
