India and China sign landmark deals

India and China sign landmark deals

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On the second day of the Chinese premier’s visit, India and China sign 12 agreements.

Chinese premier Xi Jinping and Indian Prime Minister Narendra Modi signed 12 crucial documents as part of a strategic agreement between India and China on September 18, 2014. The said deals have been undertaken to rectify the trade imbalance between the two countries and are expected to enable more market access and investment from China into India.

India and china xi jinping narendra modi

The 12 agreements include a five years economic and trade development plan, two deals for railways development, one on work plan for drug regulation and another on cultural exchange between the two nations. Also, an MoU was signed on the peaceful used of outer space, along with a twinning agreement between Shanghai and Mumbai. 

China has pledged to upgrade the Indian railways infrastructure, along with building links for high-speed trains, as well as establish industrial parks in the states of Gujarat and Maharashtra. Border dispute between India and China was also a point of discussion among the two leaders, where Modi expressed his concerns over reported infiltrations of the Indian border by Chinese troops. 

So far, the two nations had been in talks to develop the Bangladesh, China, India and Myanmar (BCIM) trade corridor, Indian PM Narendra Modi’s dream project that will establish regional connectivity between the mentioned countries.

Photo Credits: The Indian Express