India and China have deepened bilateral ties and inked a total of 50 deals worth around $32 billion on Friday and Saturday during Indian Prime Minister (PM) Narendra Modi’s inaugural visit to China as PM of India.
On Friday, India and China signed 24 bilateral agreements worth $10 billion in areas such as education, space exploration, mineral resources, and railway systems.
“This shows the depth and maturity of our relationship and the positive direction of our partnership,” Modi said during a joint press conference following the signing of the deals.
“We are committed to set a new direction between the two largest Asian countries,” Modi said, adding that “this is one of our most important strategic partnerships.”
I strongly believe that this century belongs to Asia: PM @narendramodi
— PMO India (@PMOIndia) May 16, 2015
On Saturday, the two nations signed 26 business deals worth over $22 billion in areas such as renewable energy, ports, financing, and industrial parks.
Following the signing of deals on Saturday, Modi encouraged Chinese companies take advantage of the “winds of change” in India by investing in such sectors as manufacturing, processing, and infrastructure, announcing that “now India is ready for business” with an improved regulatory environment.
“You are the ‘factory of the world’ whereas we are the ‘back office of the world’,” Modi said, adding that “you give thrust on production of hardware, while India focuses on software and services.”
Modi also found time to take a few selfies with Chinese Premier Li Keqiang:
— Vikas Swarup (@MEAIndia) May 15, 2015
It’s selfie time! Thanks Premier Li. pic.twitter.com/DSCTszSnq3
— Narendra Modi (@narendramodi) May 15, 2015