Indian PM begins key China

India and China sign $22bn in deals

Last updated: May 16, 2015

 

Shanghai, China (BBN)-India has signed trade and economic co-operation deals worth $22bn ($14bn) in Shanghai as PM Narendra Modi's visit to China draws to a close.

The agreements cover a range of industries including renewable energy, the financial sector and ports, reports BBC.

"Let us work together in mutual interests," said Mr Modi. "Now India is ready for business."

On Friday, more agreements worth $10bn (£6.3bn) covering education, railways, and scientific research were signed.

BORDER TALKS

On Friday, Mr Modi held talks with China's Premier Li Keqiang and both sides agreed to seek a "fair resolution" to dispute on their common border.

China rejects a 1914 border agreement signed by the British colonial authorities with Tibet, establishing a de-facto boundary.

Both have claims on various parts of each other's territories, including an Indian-administered area known as Zangnan or South Tibet in China which is considered part of Arunachal Pradesh state in India.

Mr Modi said at a press conference that he and Mr Li had agreed to explore a "fair, reasonable and mutually acceptable resolution" to the issue.

Mr Li said the two countries had "enough political wisdom to manage and control" differences. "Our common.

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