Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

China's Xi and India's Modi discuss proposals to improve ties hit by Kashmir

Published 10/12/2019, 05:12 AM
Updated 10/12/2019, 05:12 AM
© Reuters. India's Prime Minister Narendra Modi and China's President Xi Jinping exchange gifts in Mamallapuram

By Sanjeev Miglani

MAMALLAPURAM, India, (Reuters) - Chinese President Xi Jinping said on Saturday he had a free and frank discussion with Indian Prime Minister Narendra Modi and would pursue proposals the two leaders discussed to improve bilateral ties.

Xi and Modi held several hours of one-on-one talks in a southern seaside Indian town in their second annual summit designed to break through decades of distrust between their countries over border disputes, a ballooning trade deficit and China's close military ties with India's arch rival, Pakistan.

"Yesterday and today we have engaged in candid discussions and as friends," Xi said in opening remarks as the two leaders sat down for formal talks with their delegations.

"I look forward to further discussions, I may follow up on proposals discussed yesterday," he said, without elaborating.

Ties were ruffled when India revoked the special status of the Himalayan territory of Kashmir in August, angering both Pakistan, which claims the region, and its all-weather ally China.

Modi noted in his opening remarks that he and Xi had agreed to manage their differences prudently and not let them snowball into disputes.

The neighbors are expected to move forward on a set of confidence building measures along their border including border trade, tourism and even joint military patrols to boost trust, officials said.

India and China share a 3,500 km (2,200 mile) border, over which they went to war in 1962. Its course remains unresolved despite more than 20 rounds of talks.

Modi took Xi on a personal tour of temple monuments dating back to the seventh and eighth century at Mamallapuram in southern India when regional leaders had trade ties with Chinese provinces.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

India's Foreign Secretary Vijay Gokhale said the two leaders spent nearly five hours discussing bilateral issues that have often been fraught.

The two leaders discussed economic issues, including India's $53 billion trade deficit with China in 2018/19, and ways to tackle it, Gokhale said.

China, for its part, was expected to urge India to take an independent decision on telecom equipment maker Huawei’s bid for India’s proposed 3G network and not be swayed by U.S. pressure. The United States has asked its allies not to use Huawei equipment, which it says China could exploit for spying.

Sources told Reuters in August that China had warned of "reverse sanctions" on Indian firms engaged in business in China should India block Huawei Technologies because of U.S. pressure.

Xi will head to Nepal later on Saturday where he is expected to push for China's further involvement in developing its infrastructure as part of his signature One Belt On Road initiative to boost trade and transport links across Asia.

Latest comments

It's game over for US the moment Trump was elected POTUS... A shame for innovative and vibrant US economy and her people.
US economy is a debt ponzi scheme. The only thing which matters is how low US onterest rate will go and how much debt fed will monetize. Every else are just distractions to gain political support
I think he new exactly what's going to happen in US, so more lucrative decisions, deals will be made with India instead. He will possibly expand further and seek for more solutions outside of US. It he's successful its game over for the US.
He not come usa y he come to indiaaaaa
why go US? if no deal very shameful you know
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.