Beijing: India has said the bilateral ties with China are at an "important juncture" of development awaiting decisions that could raise the relations to a higher level and address issues like trade imbalance and market access.
While the relations between the two countries grew "very substantially" in the last decade and half, "We are now at an important juncture where decisions that could be taken may raise our cooperation to a much higher level", Indian envoy to China S Jaishankar said.
Jaishankar made the remarks yesterday while inaugurating the India Pavilion at the Euroasia Expo being held at Urumqi in northwestern Xinjiang province.
Referring to Chinese Premier Li Keqiang`s visit to New Delhi in May, he said Li`s talks with Prime Minister Manmohan Singh established a consensus on five important areas, including steps to address the issue of trade imbalance and cooperate more strongly in many fields, including pharmaceuticals, IT and agro products.
He said the talks between the two prime ministers also covered enhancing the project contracting with particular relevance for infrastructure development in India, establishment of industrial zones to provide platform for cluster-type development of enterprises, support banking institutions to set up larger presence and collaboration in development projects of common interest in third countries.
Ahead of Li`s visit, India had asked China to open up its markets in areas like IT and pharmaceuticals where the South Asian giant has an edge.
The Indian envoy also spoke about growing relations between India and Xinjiang that borders PoK.
"India and Xinjiang are close neighbours and exchanges between the two sides have been growing over years," Jaishankar said while recalling the 2011 visit of Xinjiang`s governor Nur Bekri to India.
"I have visited Xinjiang every year for the last three years. Enterprises of India and Xinjiang are already exploiting the business and investment opportunities presented to them by the other side and I hope that this forum gives them another occasion to work in that direction," he said.
This is first time India is participating at the China-Eurasia Expo regarded as the biggest trade and investment promotion platform in Xinjiang and one of the biggest in China.
Pradeep Chandra, Principal Secretary and Commissioner, Industries and Commerce Department of Andhra Pradesh, who is leading an industry delegation from the state attended the inaugural ceremony.
More than a dozen Indian companies are part of the India Pavilion, representing sectors like energy, banking, machinery, tractors, food processing, IT/ITES, infrastructure and SEZs.
State Bank of India, GMR Group, Mahindra & Mahindra, Infotech Enterprises Ltd, are some of the participating companies.