China to Open Doors for Indian Businesses

New Delhi: While the border dispute and need for a resolution dominated a joint press conference after PM Modi and Chinese President Xi Jinping held one-on-one talk, the two countries have also declared several deals and initiatives.

Mr Xi has invited Mr. Narendra Modi for visiting China
The leadership of the two countries should provide strategical direction and meet regularly, Mr Xi said after the meeting at the Hyderabad House.

China has committed investments worth $20 billion in India over the next five years
Modi said, “I invited Chinese investment in infrastructure and manufacturing sectors. I am glad two Chinese industrial parks will be built in India”

The two countries have also decided discussion on civil nuclear cooperation
The announcement is part of the Modi govt’s push to extend its nuclear energy sector and comes on the heels of a deal India struck this month to buy uranium from Australia to increase its fuel supplies.

The leaders signed 12 agreements
Among the 12 agreements India and China signed today is a Memorandum of Understanding on “peaceful uses of outer space”.

They have also signed a Memorandum of Understanding on cooperation in Railways
The two neighbours have agreed to work on raising the speed on an existing rail section from Chennai to Mysore via Bangalore.

China promises $20 billion investment in India
Mr Modi said China will open an additional route to Kailash Mansarovar via Nathu La. While thanking the President of China saying “I would like to thank Xi Jinping on behalf of all Indians for a new route to Kailash Mansarovar. This road will remain safe during the rainy season too.”

Shanghai and Mumbai will be sister cities
The kind of similar agreement was signed in Gujarat for Ahmedabad and Guangzhou to be sister cities on Wednesday.

Mr Xi said China would support India
According to Xi Jinping China would support India to become a full member of the Shanghai Cooperation Organisation which is a regional    security body whose largest members are China and Russia.

PM Modi said, speaking to reporters after a one-on-one meeting with President about the respect in the relations and along the borders
Respect for each other’s sensitivities and concerns and peace and stability in our relations and along our borders are essential.

Source: NDTV