Modi will meet Li for the first time at the meeting of East Asian leaders being held at Nay Pyi Taw in Myanmar from November 12 to 14.
Li was among the first leaders to have greeted Modi over phone after he was sworn in as Prime Minister in May this year.
Officials say both sides are trying to work out a one-to-one meeting between the two leaders on the sidelines of the East Asia Summit.
Modi will travel to Australia from Myanmar on November 14.
Xi invited Modi to attend a two-day neighbourhood summit being organised by China in Beijing from tomorrow, ahead of the Asia Pacific Economic Conference (APEC) scheduled from November 10 to 11.
Officials say because of scheduling problems, Prime Minister could not come for the meeting to be attended by Pakistan's Prime Minister Nawaz Sharif and Bangladesh's President Abdul Hamid besides leaders of Laos, Myanmar, Myanmar, Mongolia, Tajikistan and Cambodia.
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