Will it be another betrayal?
India and China inked 12 pacts in a range of areas including railways and outer space as Beijing pledged investments of $20 billion over five years in a bid to boost economic ties and address India\'s concerns over trade deficit.
1959: Then it was Hindi-Chini Bhai Bhai
2014: It is India, China – two bodies, one soul
- Indian and Chinese leaders script a new chapter in ties
- China commits $20-bn investment, easier market access
- Kailash-Manasarovar yatra made easy through Nathula Pass
New Delhi: Prime Minister Narendra Modi and President Xi Jinping on Thursday charted a new chapter in India-China economic ties, with Beijing assuring greater access to Indian goods and $20-billion investment and New Delhi rolling out red carpet for Chinese firms.
India and China inked 12 pacts in a range of areas including railways and outer space as Beijing pledged investments of $20 billion over five years in a bid to boost economic ties and address India's concerns over trade deficit. The agrements were signed after Prime Minister Narendra Modi and Chinese President Xi Jinping held extensive talks on entire gamut of ties between the two countries including the boundary dispute and visa issue.
A beaming Prime Minister said he was particularly happy that China has agreed to set up two industrial parks in India and look at how the issue of trade deficit can be addressed. India-China bilateral merchandise trade stood at $65.88 billion in 2013. While India’s exports to China were valued at $14.50 billion, its imports from China were much larger at $51.37 billion, resulting in a large trade deficit.
Speaking at an event hosted by the Indian Council for World Affairs later, the Chinese President said he agreed with the Indian Prime Minister's remarks to him earlier in the day that the two countries were two bodies with one soul. "These words reveal the connection between us," Xi said. He also praised Modi for his stewardship of India and said the country was in good hands under his leadership.
"Both Modi and I have agreed to forge much closer ties between our two countries for development," Xi added. This is, however, reminiscent of Nehru –Chou-en-Lai relationship in the late fifties when the two leaders chanted “Hindi-Chini Bhai Bhai. This was followed by the 1962 war between the two countries when India was very badly beaten by the Chinese Army.
China agreed to facilitate the annual Kailash-Manasarovar Yatra by Indian pilgrims through Nathula Pass in Sikkim in addition to the existing Lipulekh Pass in Uttarakhand. The route through Nathula will augment the capacity and reduce the hardship and journey time enabling many more pilgrims, in particular the elderly, to undertake the Yatra. A separate pact on audio-visual co-production was also signed. The two sides also decided to enhance cooperation in matters related to custom administration and inked a pact that will help strengthening cooperation to fight trans-border economic crimes.