Karnataka is on the radar of Chinese business conglomerate from Yunnan province which is expected to invest up to $1 billion in an industrial park at Vasanthnarasapura, 70 km from Bengaluru.

Particularly, Yunnan-based Sunpa Group of companies, which specializes in telemedicine systems, digital medical devices, medical information system and related hardware and software, is now keen to provide its expertise to the healthcare providers in the state. Yunnan is a south western province of China bordering Myanmar, Lao and Vietnam.

The state government has consented ‘in principle’ to allot 100 acres of KIADB land in Vasanthnarasapura industrial estate near Tumakuru for the industrial park, according to K Ratnaprabha, additional chief secretary, industries and commerce.

The Chinese delegation who included Liu Le, director, Sunpa Group, an anchor investor from Yunnan Province ,who was in the city recently had a dialogue with the state government. The Chinese delegation had conveyed that investments would be in various sectors including telemedicine, manufacturing of medical equipment and accessories, solar power generation and manufacturing of panels and technology research.

In fact, Yunnan’s Sunpa Image Tel Tech Company, a telemedicine major is expected to ink an agreement in a few months, said government officials.

A high-level delegation from Yunnan Province of China is expected to tour Karnataka. The delegation includes the president of China Development Bank in Yunnan Province, senior bureaucrats and bankers. They will inspect the location and approve the projects.

With the central government keen on strengthening trade relations with neighbouring SAARC countries as well as with China, there is a new ray of hope for the trade relations between India and these nations. This will give a further boost to active pharmaceutical and intermediates trade between India and China, said a senior government official.

Prime Minister Narendra Modi who visited China in May had pointed out that China was always a priority in India’s trade and was keen on greater economic engagement between the two countries. He underlined his government’s resolve to utilise the full potential of the strategic and co-operative partnership with China.

India has consistently sought greater market access for its exports to China, especially in fields including pharmaceuticals among others, said Union commerce and industry minister Nirmala Sitharaman.