Modi-Xi Talks Set Agenda To Further India-China Economic Ties


NEW DELHI: Prime Minister Narendra Modi, after his talks with President Xi Jinping, said a new chapter in India-China economic ties has opened with Beijing assuring greater access for Indian goods and capital while also committing an investment of $20-billion over the next five years.

With economic relations on top of the agenda for the talks between the two leaders, the prime minister said he was particularly happy that China had agreed for the setting up of two industrial parks in India and look into how the issue of trade deficit can be addressed.

"I raised the issue of trade imbalance between our two countries. I urged President Xi to give our companies better market access and investment opportunities in China," Modi said after his talks here with the Chinese side.

"The Chinese president assured that he will take concrete steps in this regard."

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 were much larger at $51.37 billion, resulting in a large trade deficit.

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Source: IANS