Chinese firm mulling $10mn plant in India

China Chongqing Yuan Innovation Technology Group, a Chinese firm, is exploring the possibility of setting up a $10 million plant in India to manufacture motorcycles and spare parts.

"We are looking at the environment of making motorcycles and parts in India. If we decide to set up a unit in India, investment potential is to the tune of $10 million,"

Zhang, deputy GM of the company, said.

The company is currently studying the Indian market and the investment climate, he added.

Zhang is part of a delegation from the Chongqing Foreign Trade and Economic Relations Commission currently in India to understand the Indian market and identify areas of co-operation and collaboration between Indian and Chongqing firms.