IGB archive

India-China clinch 24 pacts for A Renewed Relationship

India Inc. Staff

India has taken a giant leap to move past issues that have held its relations with China captive. China is India's biggest trading partner with commerce between the two countries totalling $71 billion in 2014. However, the trade deficit has spiralled from just $ 1 billion in 2001-02 to more than $38 billion in the same year.Indian Prime Minister Narendra Modi's China visit in May 2015 could mark that long-awaited milestone in the relationship.“Our relationship has been complex in recent decades. But we have a historic responsibility to turn this relationship into a source of strength for each other and a force of good for the world,” he said, setting the tone for his historic visit which coincided with his own government's one-year mark.Beyond the public relations-oriented visit to President Xi Jinping's birthplace Xian, some hardnosed business deals were also clinched.The complete list of 24 deals struck in May 2015:

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