Chinese banks have granted $2.5bn in credit lines to Bharti Airtel, the Indian telecoms group, in one of the biggest Beijing-backed financings for an Indian group to date.
It heads $22bn in business deals signed during the visit of Narendra Modi, Indian prime minister, to China.
In meetings with President Xi Jinping and other Chinese leaders, Mr Modi sought to strengthen commercial ties between India and its more prosperous neighbour as well as ease tensions over their disputed 4,000km Himalayan border. China had already promised $20bn of infrastructure investment during Mr Xi’s visit to India last year.
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