Indian, Chinese firms set to make business deals worth $22bn

Indian and Chinese firms agreed to memorandums of understanding on 26 deals in the finance, telecom, entertainment, solar, port and steel sectors on Saturday valued at US$22 billion, The Wall Street Journal reported, citing figures from the government of Indian Prime Minister Narendra Modi. Terms for the business plans weren’t available, though solar deals featured prominently. They followed the signing in Beijing on Friday of 24 government-to-government framework agreements to cooperate in railways, mining and space that coincided with Modi’s visit to China to meet with President Xi Jinping and Premier Li Keqiang.