Second informal summit between Prime Minister Modi and President Xi has concluded. From Tourism to Defense various topics were discussed in the heritage town of Mamallapuram and later in Chennai. lets take a look at the four big takeaways from the second informal summit.
1. Tourism
China and India being world's most populous countries have immense potential of tourism from which both the countries can be benefited. both the leaders have agreed to give special attention to
this sector.
To increase People-to-People connect it has been decided that next year to commemorate 70 years of India-China diplomatic relations 70 events will be celebrated 35 on both sides.
President Xi has assured greater facilitation to pilgrims going to Kailash Mansarovar yatra and connection between Indian state Tamil Nadu and Fujian province of China both of which had
ancient trade relations with each other.
2. Trade
China and India has trade worth $95 billion and India is at trade deficit. President Xi has assured
of taking sincere action to reduce trade deficit and showed readiness to discuss hoe trade deficit
can be reduced.
China has showed keen interest to invest in India in IT, Pharmaceutical sector.
Prime Minister Modi emphasized on Manufacturing sector and both leaders have decided to work on the same due to which job opportunities are expected to increase.
RCEP is a long standing issue on which India is negotiating from very long time primarily due to
trade deficit with China. Prime Minister Modi said balance should be maintained as India is
already in trade deficit and facing economic slowdown on which President Xi agreed and said
China is ready to discuss this issue.
New High Level Mechanism on Trade, Investment, Service will be set up in which Finance
Minister of India and Vice Premier of China will be chairpersons.
3. Defense
Emphasize was given on increasing engagement between both side's security forces.
Defense Minister of India is invited to China for further discussions.
4. Global Issues
Both sides have agreed to work together in global issues like Climate Change, Terrorism,
supporting each other's view at international organizations and reforms in organizations like WTO.
Conclusion:
Having agreed upon respecting each other's territorial integrity both the countries are looking
looking forward to improve relations with each other. India needs to balance out between USA
and China both the superpowers without leaning on one side more.
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