Modi and Xi Jinping Discuss Trade, Cooperation, and Stable Relations in China

During a special briefing on Prime Minister Narendra Modi's visit to China, Foreign Secretary Vikram Misri discussed the bilateral meeting between PM Modi and Chinese President Xi Jinping. The leaders emphasized the need for a political and strategic approach to address the trade deficit between the two countries.

The discussion centered on economic and trade relations, with both leaders acknowledging the role their economies play in stabilizing global trade. They reiterated the importance of reducing the bilateral trade deficit, facilitating trade and investment, and increasing policy transparency and predictability.

Misri highlighted that the trade deficit has been a topic of discussion for several years, including during meetings between the Foreign Ministers of both countries. He emphasized the importance of viewing the trade deficit within the broader strategic context of the relationship. Growing trade and a narrowing deficit are expected to improve perceptions of the relationship.

The leaders also discussed ways to increase and balance bilateral trade and strengthen people-to-people ties. They agreed that both countries are primarily focused on domestic development goals and see each other as partners.

Both leaders recognized the benefits of a stable and amicable relationship, which would positively impact the 2.8 billion people living in India and China. They also agreed that differences should not be allowed to escalate into disputes.

Furthermore, the leaders acknowledged the importance of cooperation between India and China for an "Asian century" and a functioning multipolar world order. They noted the progress made and the momentum maintained in bilateral relations, particularly in people-to-people interactions, since their previous meeting in Kazan. They also discussed principles for bilateral relations to guide future work.