SHANGAI (Web Desk) – India has signed trade and economic co-operation deals worth $22bn ($14bn) in Shanghai as PM Narendra Modi’s visit to China draws to a close.
The agreements cover a range of industries including renewable energy, the financial sector and ports, the BBC reported.
“Let us work together in mutual interests,” said Mr Modi. “Now India is ready for business.”
On Friday, more agreements worth $10bn (£6.3bn) covering education, railways, and scientific research were signed.
Yesterday, Mr Modi held talks with China’s Premier Li Keqiang and both sides agreed to seek a “fair resolution” to dispute on their common border.
China rejects a 1914 border agreement signed by the British colonial authorities with Tibet, establishing a de-facto boundary.
Both have claims on various parts of each other’s territories, including an Indian-administered area known as Zangnan or South Tibet in China which is considered part of Arunachal Pradesh state in India.
Mr Modi said at a press conference that he and Mr Li had agreed to explore a “fair, reasonable and mutually acceptable resolution” to the issue.
Mr Li said the two countries had “enough political wisdom to manage and control”.
Both these Asian giants are talking up the need for greater co-operation following decades of mistrust. And the economy is one area they can agree upon.
But for all talk of co-operation, China and India remain fierce rivals.
A solution for a decades-long border dispute is nowhere in sight. And increasingly the two nations are vying for regional influence which could lead to a fresh round of tensions.
On Friday, Mr Modi also met Zhang Dejiang, the chairman of the National People’s Congress standing committee, on Friday.
A statement by China’s foreign affairs ministry reported Mr Xi as saying to Mr Modi that their two countries “must work together to enhance mutual trust, control our differences and problems to avoid them interfering with bilateral relations”.
