"China's support for India's permanent membership of a reformed UNSC and for India's membership of export control regimes like Nuclear Suppliers Group (NSG) will do more than just strengthen our international cooperation," Modi said while addressing the students of the Tsinghua University.
Earlier, Foreign Secretary S Jaishankar told the media that China for the first time said it has taken note of India's interest to become a member of the 44-nation NSG which controls the civil nuclear technology trade regime.
China is the only veto-wielding permanent member which is yet to come out in support of India's interest to become a permanent UNSC member.
"It will take our relationship to a new level. It will give Asia stronger voice in the world," Modi said.
"If we are able to deepen mutual trust and confidence, we will also be able to reinforce each other's efforts of connecting Asia with itself and rest of the world," he said.
In an apparent reference to the frictions between the two countries over strategic rivalry in South Asia, Modi said, "We are both increasing our engagement in our shared neighbourhood. This calls for deeper strategic communication to build mutual trust and confidence."
"If the last century was the age of alliances, this is an era of inter-dependence. So, talks of alliances against one another have no foundation," Modi said.
Earlier, during talks with Li, the two sides made positive comments on each other's assistance to the quake relief work in Nepal and agreed to strengthen cooperation on disaster mitigation and relief in underdeveloped regions.
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