India and China have signed billion-dollar deals on clean energy, infrastructure, electricity, steel and other projects. The two emerging economies said they wanted to take the economic cooperation to a higher level through mutual investments. The pact included a $3 billion renewable energy project that will see a tie-up between India’s Reliance Power and China’s Ming Yang Wind Power Group. Under the agreement, state-run China Development Bank would also lend $2 billion to cash-strapped Lanco Infratech of India to help the latter finance its two power projects.
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