India, China to undertake joint research on WTO reforms

India and China Thursday agreed to undertake joint research in the areas of WTO reforms, urbanisation and frontier technologies with a view to enhancing economic cooperation between the countries, an official statement said.

Both sides also agreed to examine various trade sector related issues, and the need for enhanced policy coordination to facilitate investments, the statement said.

The statement was issued after the conclusion of the fourth dialogue of NITI Aayog-Development Research Centre (DRC) of the State Council, Peoples' Republic of China, held in Mumbai Thursday.

The Chinese delegation was led by President of DRC Li Wei and the Indian delegation was led by Vice Chairman of NITI Aayog Rajiv Kumar.

According to statement,both sides also affirmed their commitment for a more inclusive and truly global world order with multilateralism as the preferred way forward.

The statement further pointed out that emphasis was also laid on innovation and digital economy and it was observed that India and China are poised to become global leaders in digital innovation with rising number of tech startups operating in various sectors.

On electric mobility, the statement said with India envisioning to move towards electric vehicles (EVs) by 2030 avenues for collaboration via joint research and development, public and private investment were discussed.

The fifth edition of the NITI - DRC Dialogue will be held in Wuhan, China in November, 2019.