NITI Aayog to engage in dialogue with China's think tank DRC

Taking a step towards closer economic ties with China and to deliberate on macro economic issues, a team led by NITI Aayog Vice-Chairman Arvind Panagariya will engage in a dialogue with China's Development Research Centre (DRC) from Monday.

It will be the first dialogue between NITI Aayog and the DRC after the body was constituted to replace the erstwhile Planning Commission, said an official.

The two-day meeting will be held in Beijing. DRC is directly under the State Council of China and does research on strategic, long-term issues pertaining to economic and social development.

According to the meeting's agenda, there will be deliberations on opportunities and challenges for both the nations in the current global economic scenario.

Besides, there will be discussions on issues related to regional trade associations and their implications for India as well as China.

There will also be a dedicated session for strengthening Sino-Indian economic cooperation. The officials and experts of the two bodies will deliberate on building closer developmental partnership.

The issue of the wide trade imbalance between the two nations will also be discussed at the China-India Development Roundtable 2015 beginning on November 23.

There is will be field visit of officials and experts to Tianjin during the day, followed by day long roundtable discussions of officials and experts of the two bodies on Novembers 24.

The Indian delegation will have NITI Aayog CEO Sindhushree Khullar, NITI Aayog Advisor (Energy) Anil Jain, National Institute of Public Finance and Policy Director Rathin Roy and Ministry of External Affairs Joint Secretary Pradeep Kumar Rawat.

India's trade deficit with China increased about 34 per cent to USD 48.43 billion in 2014-15 from USD 36.21 billion in the previous fiscal.

India's concern on the rising deficit has been discussed with China at various fora, including the highest level of leadership of the two countries.