6th India-China Economic Dialogue concludes with 6 agreements

The 6th India-China Strategic Economic Dialogue (SED), held from 7-9 September 2019 in New Delhi, concluded with both sides agreeing that the SED has emerged as a crucial mechanism to facilitate bilateral trade and investment flows, and to enhance economic cooperation.

Set up during the visit of Chinese Prime Minister Wen Jiabao to India in December 2010, the SED has since then served as an effective mechanism for enhancing bilateral practical cooperation. This year, the Dialogue comprised round table meetings of Joint Working Groups on infrastructure, energy, high-tech, resource conservation and policy coordination followed by technical site visits and closed door G2G meetings. Senior representatives from both sides in the areas of policy making, industry, and academia participated in this dialogue. The Indian side was led by Dr. Rajiv Kumar, Vice Chairman, NITI Aayog, and the Chinese side by He Lifeng, Chairman, National Development and Reform Commission (NDRC). 

The two sides, through outcome-oriented deliberations of the six working groups, arrived at the following mutual agreements:

1. Policy Coordination: The two sides reviewed trade and investment climates in order to mutually identify potential areas of collaboration, and agreed to exchange an annual calendar of activities to further activate regular channels of communication.
2. Infrastructure: There were detailed discussions to assess progress so far and to identify new projects for cooperation.
3. High-Tech: There was an assessment of achievements since the 5th SED and an exchange of views on regulatory procedures of ease of doing business, development of artificial intelligence, high-tech manufacturing, and next-generation mobile communications. 
4. Resource Conservation and Environmental Protection: The two sides reviewed the progress made in the fields of water management, waste management, construction and demolition waste, and resource conservation, and also deliberated on the role of innovation. 
5. Energy: India and China resolved to work together in the sectors of renewable energy, clean coal technology, e-mobility, among others. 
6. Pharmaceuticals: It was decided that both sides would strengthen complementary advantages and explore cooperation for promoting Indian generic drugs and Chinese APIs.

Both the Indian and Chinese delegations agreed to effectively utilize the Strategic Economic Dialogue mechanism as an overarching and permanent instrument to address outstanding issues and identify areas of collaboration in order to augment bilateral economic and commercial ties between the two sides.