Brics summit: India and China pledge to boost ties

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15 July 2014 Last updated at 00:34 ET
Brics summit: India and China pledge to boost ties
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The two countries disagree over the demarcation of several Himalayan border areas
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The leaders of India and China have stressed the need to boost bilateral ties during a meeting on the sidelines of the sixth Brics summit in Brazil.

Prime Minister Narendra Modi told Chinese President Xi Jinping that India was committed to a peaceful resolution of the boundary dispute with Beijing.

The two countries disagree over the demarcation of several Himalayan border areas and fought a brief war in 1962.

Tensions over the issue still flare up from time to time.

Mr Modi, who led his Bharatiya Janata Party's (BJP) to a landslide victory in the recent general election, has pledged to revitalise the economy and deepen ties with China during his term of office.

The three-day Brics summit, involving Brazil, Russia, India, China and South Africa, started on Tuesday.

"Had a very fruitful meeting with Chinese President Mr Xi Jinping. We discussed a wide range of issues," Mr Modi tweeted after Tuesday's meeting.

Indian foreign ministry spokesperson Sayed Akabaruddin said the talks had gone well.

"The discussions between the two leaders covered almost every aspect of our relationship... the PM also made it very clear that there we hope for a resolution of the boundary question and pending the peace and tranquillity on the border," Mr Akabaruddin said.

"This was something that was conveyed in clear terms and it was understood by the Chinese president also in the same spirit because the effort was to communicate our concerns as partners."

China's state-run Xinhua news agency said "Mr Xi suggested the two sides manage, control and handle differences with a positive and forward-looking attitude".

He also urged the two countries to launch a batch of exemplary projects in industrial investment and infrastructure building such as railway construction, and expand cooperation in such fields as service trade, investment and tourism, so as to gradually realise a generally-balanced and sustainable bilateral trade, Xinhua news agency adds.

Mr Modi and Mr Xi discussed bilateral trade and the Chinese leader invited the Indian PM to visit China at an earliest opportunity.

China is already one of India's top trading partners and the Asian neighbours are the world's two most populous countries.
 

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Forgot which thread it was but I called this. China and India got too much to gain working together, Putin in the cut schemin to re-route that gas south to Asia. :scheme:
 

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WTO rules against US in trade spat with China and India
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The WTO said the US violated global trade rules when it imposed tariffs on products like solar panels
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Global Economy
The World Trade Organisation (WTO) has found the United States violated global trade rules when it imposed tariffs on products from China and India.

In response to a 2012 complaint, the WTO said the US improperly imposed tariffs on Chinese steel and solar panels.

In a separate ruling, it said the US must change the way it imposes tariffs on India steel products.

The US is embroiled in several trade spats with China and India.

Complaints
"China urges the United States to respect the WTO rulings and correct its wrongdoings of abusively using trade remedy measures, and to ensure an environment of fair competition for Chinese enterprises," said China's foreign trade ministry in a statement.

However, the WTO did not agree with all of the complaints filed by India and China.

The US - which has argued it imposed the tariffs to combat artificially low prices on products from India and China's state-subsidised industries - has the right to appeal the ruling.

http://www.bbc.com/news/business-28301144
 
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