Prime Minister Narendra Modi and Chinese President Xi Jinping, during their bilateral meeting on the sidelines of the SCO Summit in Tianjin, underlined the importance of adopting a political and strategic approach to address the longstanding trade deficit between India and China.

According to Foreign Secretary Vikram Misri, who briefed the media following the talks, both leaders recognised the significant role that their economies can play in stabilising global trade and emphasized the need for deeper economic cooperation.

The discussions focused not only on reducing the bilateral trade imbalance but also on creating more transparent, predictable, and mutually beneficial business environments.

Misri highlighted that the issue of the trade deficit has remained a key subject of dialogue over the years, having been raised during earlier engagements as well, including Foreign Minister Wang Yi’s visit to New Delhi.

The leaders expressed the view that narrowing the trade deficit and enhancing two-way trade and investment ties would reshape public perception of bilateral relations and constructively impact their strategic partnership.

Importantly, both Modi and Xi reiterated that India and China, as major Asian powers, should view one another as development partners rather than strategic competitors. Emphasizing domestic priorities, both sides agreed that their focus lies in achieving national development goals where cooperation can serve mutual interests.

This pragmatic stance reflects a growing recognition that a stable and harmonious relationship between the two giants would directly benefit the 2.8 billion people living in the two countries, while also contributing positively to the larger Asian and global order.

The talks also extended beyond trade matters, addressing the strengthening of people-to-people ties and cultural exchanges, seen as critical components in building durable trust. Both leaders stressed that while differences remain in certain domains, such divergences should not be allowed to escalate into disputes.

Echoing a shared consensus, they asserted that the common interests and convergences between India and China far outweigh their areas of contention. Misri further observed that both sides acknowledged the importance of cooperation to realise the vision of an “Asian century” and to foster a multipolar world with Asia at its core.

Reflecting on past bilateral engagements, the Foreign Secretary noted that Modi and Xi expressed satisfaction over progress made since their previous meeting in Kazan in October of the previous year. They recognised the positive momentum achieved in bilateral relations, especially in strengthening people-to-people contacts.

Both leaders also exchanged views on principles that could serve as guiding frameworks for managing their complex relationship moving forward. These understandings, it was observed, would help shape the contours of cooperation, ensuring constructive engagement even as both sides continue to navigate challenges.

The Modi-Xi dialogue in Tianjin signalled a reaffirmation of their mutual commitment to maintain stability, deepen economic ties, and address imbalances through a political and strategic lens.

By focusing on trade cooperation, developmental partnerships, and avoidance of disputes, India and China aim to contribute to regional stability, economic growth, and a cooperative Asian future.

Based On ANI Report