Economic Buzz: India and China agree to expand economic ties to stabilise world trade

India and China on Sunday vowed to expand trade and investment ties to stabilise global commerce as Prime Minister Narendra Modi and Chinese President Xi Jinping agreed to deepen bilateral ties to combat pressing challenges and work towards a fair solution to the festering border issue. Prime Minister underlined the importance of peace and tranquility on the border areas for continued development of bilateral relations. On economic and trade relations, they recognized the role of their two economies to stabilize world trade. They underlined the need to proceed from a political and strategic direction to expand bilateral trade and investment ties and reduce trade deficit. Prime Minister noted that India and China both pursue strategic autonomy, and their relations should not be seen through a third country lens. The two leaders deemed it necessary to expand common ground on bilateral, regional, and global issues and challenges, like terrorism and fair trade in multilateral platforms.

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