India, China deepen economic cooperation (2)

Zhang Ping, Chairman of National Development & Reform Commission, said, "In the last year, both sides have made progress and preparations for the second meeting. And during this meeting, both sides will not only discuss macro-economic policies, but they will also take business to the next level."

India and China are looking at energy, environment and railways as big sectors. India is also looking at using china’s expertise in building High speed rail corridors.

Montek Singh Ahluwalia, Vice Chairman of Planning Commisstion, said, "There are many areas in railways which we would be interested in. Certainly high speed rail is one possibility also modernisation of railway stations. The Chinese have done an outstanding job of upgrading and modernising their railway stations and that’s something as can collaborate on."

Currently India and China’s bilateral trade stands at 74 billion dollars and the target is to take to 100 billion dollars by 2015 but the figures could be much better with both the countries planning to cooperate on macro economic policy level. Even though differences remain including the issue of Chinese telecom companies entering India, both the nations are looking at the positives for now.

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