Indo-China partnership essential for development and stability of Asia: PM Modi

The Indian Prime Minister on Saturday said the two countries can complement each other with ease

Prime Minister Narendra Modi on Saturday said that a partnership between India and China is essential for the development and stability of Asia, adding that the two countries can complement each other with ease.

"India-Chinese partnership should and will flourish. I expect a very good outcome from this coming together. We have complemented each other in the past. We can complement in the present and future too. As two major economies in Asia, the harmonious partnership between India and China is essential for economic development and political stability of the continent. You are the 'factory of the world', whereas we are the 'back office of the world'. You give thrust on production of hardware, while India focuses on software and services," said Prime Minister Modi, while speaking at the India-China Business Forum in Shanghai.

"Indian component manufacturers have been masters in high-quality precision and the Chinese players have mastered the art of mass production. The component design expertise of Indian engineers and low cost mass production by China can cater to the global markets in a better way. This industrial partnership of China and India can bring about greater investment, employment and satisfaction of our people," he added.

"Let us work together in mutual interest and for progress and prosperity of our great countries. India is ready for business. You must be sensing the winds of change in India. I only advise to you to come and feel the same," he further said.

Earlier in the day, CEOs of a number of Chinese firms pledged their 'full support' to Prime Minister Modi's 'Make in India' initiative.
 

More than 20 agreements were signed between Indian and Chinese firms.

Prime Minister Narendra Modi is currently in Shanghai, the final leg of his trip to China. In the evening, he is scheduled to depart for Ulan Bator.