PM Modi gifts Xi image embossed silk shawl to Chinese premier

PM Modi gifts Xi image embossed silk shawl to Chinese premier

President Xi Jinping arrived in Chennai on Friday for the second informal summit with Indian Prime Minister Narendra Modi, which analysts said is expected to enhance political trust between the world's two most populous countries.

Briefing media at Mamallapuram, Foreign Secretary Vijay Gokhale said both the leaders engaged themselves in one on one interactions for over six hours.

During Xi's trip from hotel to Mahabalipuram in the state of Tamil Nadu, people from all walks of life, including young students, lined the streets waving Chinese and Indian national flags, with young men and women in Indian traditional costumes singing and dancing, to welcome the Chinese president for his visit.

Both the leaders have chose to establish a High-Level Economic and Trade Dialogue mechanism to better balance trade between the two countries. "Prime Minister Modi said that he looked forward to this, but believed that there should be a balance between trading goods and services". As far we are concerned, there is a significant market in China, and the Chinese say there is a significant market in India.

Narendra Modi has reiterated that differences should not escalate into disputes between India and China, adding that the two Asian giants have so far successfully implemented a vision adopted during the Wuhan Informal Summit.

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Beijing is insistent that New Delhi must now sign the mega free-trade pact Regional Comprehensive Economic Partnership or RCEP, the talks for which began in 2012.

Misri also stressed the importance of India-China cooperation under multilateral frameworks such as the Shanghai Cooperation Organization, BRICS and the G20. Xi's trip, which extends into the weekend, includes a second informal summit with Modi and the first visit to Nepal by a Chinese president in 23 years.

He said that both Modi and Xi are "very strong and very popular leaders", and they are fully capable of shaping the future of the bilateral relationship in a constructive and mutually beneficial direction.

Xi and Modi met over dinner for more than two hours on Friday after the Indian prime minister took the Chinese president around an ancient temple and some other monuments that are part of UNESCO's world heritage sites in Mamallapuram.

This topic also figured in India's press statement, which stated that both leaders felt that terrorism "continues to pose a common threat". India and China will continue to work together for open and inclusive trade arrangements that will benefit all countries. He said both the leaders are concerned that terrorism continues to pose a common threat and it is important to urge the worldwide community to strengthen the framework against training, financing and supporting terrorist groups throughout the world and on a non-discriminatory basis. India and China both have a different perception of the Line of Actual Control (LAC), which covers the entire 3,488 km-long border between the neighbours. They have also agreed to encourage mutual investments in identified sectors through the development of a manufacturing partnership and tasked their officials to develop this idea at the first meeting of the High-Level Economic and Trade Dialogue.

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