6th India-China Strategic Economic Dialogue
Why in News?
The 6th SED (Strategic Economic Dialogue) between India and China recently concluded in New Delhi, India.
- As per the official release, representatives of the both the countries held elaborate discussions to review trade and investment in climate and harness synergy for future engagements.
- The discussions also revolved around the potential areas of collaboration across innovation and investment focusing on fintech and related technologies.
- The Chinese delegation was led by the Chairman of NDRC, He Lifeng whereas the Indian side was led by the Vice-Chairman of NITI Aayog, Dr. Rajiv Kumar. He emphasized on taking able steps to address the issue of India’s Trade imbalance with China.
- Both the sides noted the significant development made in the feasibility study on Chennai-Bangalore-Mysore railway upgradation project and personal training of Indian Senior Railway management staff in China.
- Detailed discussion regarding identifying the next step in all areas of cooperation as well as on taking forward the study project exploring the possibility of Delhi-Agra high-speed railway in the pilot section.
The SED was first mooted in December 2010 when Premier Wen Jiabao visited India. Usually held between the counterpart planning commissions of the two countries – the Planning Commission of India and the National Development and Reform Commission (NDRC) of China – SED is gradually becoming a mechanism of import.
India and China are not only big economic powers, being the third and second largest global economies, but the panoply of their engagement has been upgraded to a new level of global and autonomous standing today.
This is important when world politics has become more multipolar in nature and the two countries are engaged with each other in a range of bilateral, regional, cross-regional and global multilateral forums.