Published: Tue, April 17, 2018
People | By Leon Thompson

China says ties with India now see progress

China says ties with India now see progress

Maybe India can substitute for soybean and sugar, if we could access those exports with all the due quality considerations to our farmers.

"This year, under the guidance of the two leaders, China-India relations have been developing with a sound momentum".

It is evident from the increase in visits by top diplomats from both countries, including the low-key one by NSA Ajit Doval last week.

India on Saturday offered to help China meet its demand for soybean and sugar in the wake of Beijing proposing hefty duties on imports of American commodities because of trade tensions with Washington.

Trump is pressuring China to reduce the $375 billion trade deficit with America to $100 billion.

"Yes it's true China and US have differences, but if you take the business and economic view of difference, you see it is productiveness, because difference allows for complementarity, compatibility and win-win collaboration", he said.

Soybean is regarded as most important for U.S. farmers as China is the largest importer.

India also slammed the USA for its "protectionist" trade policies, saying the "unseemly" practice has hurt the world's economic recovery.

He said a synchronised recovery was taking place in the world economy after a long time. "That might be very useful", Kumar said referring to the US-China trade war.

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"Our rate average growth for the next five years until 2022 should be between 8.5 to 9 per cent", he said, highlighting reforms undertaken by the BJP-led NDA government.

"China's emergence not only as a global economy, but a force in the world in all dimensions, is going to be a defining feature of the 21st century", said Geoffrey Garrett, dean of Wharton School at the University of Pennsylvania, in his speech at the opening ceremony of the Wharton China Summit 2018.

"Officials from the two foreign ministers also met".

Kumar said there is enormous potential to set up special clusters for Chinese investments like textiles, leather, food processing, electronic components and pharmaceuticals. We now give them multiple three-month visas.

China wants to stick to the "right path" of bilateral ties with India, explore new areas for cooperation and ensure sound and steady development of the relationship, the Chinese Foreign Ministry said on Monday. We will do whatever to get the investment done.

Kumar also asked China to increase the number of working groups under the dialogue mechanism - now five groups focus on infrastructure, hi-tech, energy, resource conservation andpolicy coordination - to include pharmaceuticals and culture.

Kumar called for adding working groups on culture, underlining the increasing success of Indian films in China, and on pharmaceuticals.

"We have liberalized as you know all the business visa regimes for the Chinese investors to come".

"This is a honest request for reciprocity which is that we have liberalised all the business regimes for Chinese businessmen". He suggested extension of India's IT corridor in Chinese city of Dalian to the rest of Chinese provinces to combine India's software with China's hardware.

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