Prime Minister Narendra Modi speaking at the India-China business forum.

At least 21 deals worth $22 billion were signed in Shanghai during the end of Indian prime minister Narendra Modi’s visit to China. The deals between Indian and Chinese firms, include agreements within financial and industrial sectors, renewable energy and ports.

“The agreements have a bilateral commercial engagement in sectors like renewable energy, industrial parks, power, steel, logistics finance and media and entertainment,” said an official of the Indian embassy in Beijing, Mr. Namgya C Kampa.

Speaking at the India-China Business Forum, attended by CEOs of many firms, Mr. Modi said “Let us work together in mutual interests. Now India is ready for business,” adding that a “harmonious partnership” between India and China was essential for economic development and Asia’s political stability. He also mentioned the commonality of both Asian major economies potentials and the view that the two countries can tackle challenges such as poverty together.

“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,” said Modi while expressing that many Chinese companies can invest in, and take advantage of India whose potential lies in manufacturing, processing and infrastructure.

“We are making the taxation system transparent, stable and predictable. We have removed a lot of regressive taxation regimes,” said the Indian PM indicating the effort of his government to better ease business for the two countries.