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Things to know about the India-China Dialogue12
Overview
• Chinese President Xi Jinping pledged to invest $20 billion in India.
• The world's two most populous nations used the summit to sign
agreements to boost their commercial and trade ties, even as a dispute
over their shared border overshadowed Xi's three-day visit to India.
• The trade gap between the two countries stood at approx. USD 35
billion in favour of China. The total bilateral trade was at approx. USD
66.4 billion trade last year.
• Here are some of the key announcements:
#1 High-speed train corridors
China will work with India to build one of the proposed high-speed train
corridors and upgraded railway stations. To begin with, Chinese
engineers will help commission the Chennai-Bangalore-Mysore corridor
and help augment train for 160 kmph.
#2 Industrial Parks
Set up industrial parks in Gujarat (Power equipment) and Maharashtra
(Automotive parts).
#3 Market Access
Give more market access to products from India, including
pharmaceuticals, farm products and fuel industries.
#4 Kailash Manasarovar Yatra
Agreement provides for conducting the annual Kailash Manasarovar
Yatra through Nathula Pass in Sikkim addition to the existing Lipulekh
Pass in Uttarakhand. The route through Nathula will augment the
capacity and reduce the hardship and journey time enabling many
more pilgrims in particular aged pilgrims to undertake the Yatra.
#5 Extended Credit for Projects
The Export Import Bank of China signed an agreement with the State
Bank of India, India's largest lender, to extend a $1.8 billion line of
credit for projects including those importing Chinese products. A similar
agreement was signed with India’s ICICI Bank for $1 billion.
#6 Audio-Visual Co-production
Agreement on Audio-Visual Co-production between The Ministry of
Information and Broadcasting of the Republic of India and the State
Administration of Press, Publication, Radio, Film and Television of The
People`s Republic of China.
#7 World Book Fair 2016
Both sides have agreed that China will participate in the New Delhi
World Book Fair 2016 as the Guest of Honour Country. The Agreement
will help provide greater access to their nationals of publications of the
other side.
#8 R&D for Outer Space Exploration
Agreement enables both sides to encourage exchange and cooperation
in the exploration and use of outer space for peaceful purposes,
including research and development of scientific experiment satellites,
remote sensing satellites and communications satellites.
#9 BCIM Economic corridor
Both developing countries decided to work together to steer regional
cooperation and advance their efforts to build the BCIM (Bangladesh,
China, India and Myanmar) economic corridor.
#10 Telecom Deals
Chinese telecom equipment maker ZTE Corp and India's Reliance
Communications signed a deal worth $162 million. Reliance
Communications has also signed a $157 million agreement with
Huawei Technologies Co. Ltd.
#11 Environment & Health
The Chinese city of Guangzhou and Indian city of Ahmedabad in
Gujarat state signed an agreement for closer cooperation in fields such
as environment and health. They also signed an agreement for Mumbai
and Shanghai. It will enhance people-to-people exchanges fostering
greater mutual understanding.
#12 More Deals & Agreements
More than 20 other smaller deals totaling some $500 million were
signed between Chinese and Indian firms. These companies signed
agreements for an array of products including peanut oil, cotton and
even seafood.
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