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India's PM Modi, China's President Xi Discuss Investment, Border Issues
Modi called for enhanced Chinese investment in the infrastructure sector in India, and hoped that the trade imbalance between the two countries is resolved.
President Xi agreed that balance in trade is necessary for a sustainable economic relationship. He also said enhanced services exports from India to China could be one way to address the issue, said a statement released on Tuesday.
Both leaders are in Brazil for the Sixth BRICS Summit. The 80-minute meeting was the Prime Minister's first summit-level interaction with China.
The two leaders observed that India and China had enormous opportunities to not only forge mutually beneficial partnerships, but also serve as catalytic agents of Asian and global prosperity.
Xi underscored the importance of the bilateral relationship and said,"when India and China meet, the whole world watches."
The two leaders were pleased with the opportunity to meet within a few weeks of the assumption of office by Prime Minister Modi.
They expressed satisfaction at the high momentum of bilateral engagement during the past few weeks, including the visit of India's Vice-President Hamid Ansari to China and the visit of Chinese Foreign Minister Wang Yi to India as Xi's Special Envoy, in June.
According to the statement, both sides emphasized on the need to find a solution to the Boundary Question.
The prime mnister stressed on the importance of strengthening mutual trust and confidence, and maintaining peace and tranquility on the border.
He said that if India and China could amicably resolve the Boundary Question, it would set an example for the entire world, on peaceful conflict resolution.
China has invited India to attend an Apec meeting in November this year.
Xi also said that India should deepen its engagement with the Shanghai Cooperation Organisation (SCO).
Modi responded by saying that India currently has an observer status in the SCO, and was ready to accept additional responsibility, if asked.
The prime minister expressed hope that Xi's planned visit to India this year was an opportunity to chart a new and ambitious agenda for the strategic partnership between India and China.
He expressed appreciation for the invitation extended to him to visit China and looked forward to an early visit.
news coverage in our Newswire service.
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