India and China Sign 12 Agreements

India and China have signed 12 agreements in Delhi, one of which will see China investing $20bn (£12.2bn) in India’s infrastructure over five years.

At a news conference with Chinese President Xi Jinping, India’s PM Narendra Modi said “peace on the border” was important for progress.

Talks came as India accused China of fresh territorial incursions in Ladakh.

China is one of India’s top trading partners but they vie for regional influence and dispute their border.

Mr Modi and Mr Xi made separate statements at the end of their talks in Delhi on Thursday.

Under the investment plans, China pledged to:

Help bring India’s ageing railway system railway system up-to-date with high-speed links and upgraded railway stations.
Set up industrial parks in Gujarat and Maharashtra.
Give more market access to India to products, including pharmaceuticals and farm products.
Both sides also focussed on increasing co-operation in trade, space exploration and civil nuclear energy.

Mr Modi called for an early settlement on the disputed common border between the two countries and said the “true potential of our relations” would be realised when there was “peace in our relations and in the borders”.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza