India,China discuss expansion of defence,economic ties

While President Pratibha Patils visit to Beijing expected later this year,possibly after a new Government assumes office,is set to be the highpoint of the bilateral relations,top ranking Government and key party functionaries from China are also expected to visit India.

The Chinese have expressed an interest in deepening the economic engagement with India by helping build infrastructure for the 2010 Commonwealth Games. While Chinas prowess in the field was on display in the Beijing Olympics,New Delhi and Beijing feel the step is likely to help beat the economic slowdown by creating jobs and increasing demand for goods and services. This comes in the backdrop of renewed optimism about India and China acting as the engines that will drive economic growth. During the period from 2000 to 2008,while the world economic output grew at an average annual rate of four per cent,India and China witnessed GDP growth rates of 7.7 per cent and 9.9 per cent respectively.

At a conference organised by the CII,analysts said that a sustained mutual interest,a growing economic presence in each others development and sharing of best practices would help the industry on both sides to move ahead.

Chinese ambassador to India Zhang Yan,addressing the conference on Wednesday,said: Yes,the challenge we are facing is great,but the future is bright as long as China and India can pool their efforts,learn from each other and compliment each other,the two countries will surely emerge as winners of this crisis.