India, China vow harmonious partnership for stability in Asia

India and China will work together to herald a harmonious partnership among Asian nations, Prime Minister Narendra Modi said on the last day of his three-day China visit even as the two countries vowed to find a mutually-acceptable mechanism to resolve the pestering border issue.

Prime Minister Narendra Modi at the India-China Business Forum, in Shanghai, China, on 16 May 2015

Indo-Chinese economic partnership should and will flourish, Modi said while stressing on strengthening Sino-India relations. Harmonious partnership between both the countries is essential for economic development and political stability of the continent, the PM stressed while addressing business leaders in Shanghai.

India, he said, wants to promote manufacturing in a big way, particularly to create jobs for its youth who form 65 per cent of the population.

For this, he said the government is constantly improving the ease of doing business in India.

"Let us work together in mutual interest and for progress and prosperity of our great countries," said the PM.

Pitching for Make in India, the PM said the scope and potential, the breadth and length of infrastructure and related developments is very huge in India.

Modi is in Shanghai on his last leg of a 3-day China visit. Ministry of external affairs spokesperson Vikas Swarup confirmed the signing of  21 business agreements between the two countries.

''More than 20 agreements have been signed between Indian and Chinese CEOs.'

Modi met with top Chinese CEOs and invited them to 'Make in India'.

''We are full of hope about India, which offers a dynamic work force and huge market,'' said Liang Wengen, chairman, SANY.

''We are excited about India. We are excited about Make in India and Digital India,'' Jack Ma of Alibaba told PM Modi.

''I think the PM has come with a clear agenda, kudos to the PM for taking it head on,'' said Rajan Mittal, vice president, Bharti Enterprises.

One constraining point in increasing trade between the two sides is India's ballooning trade deficit with China.

''Trade deficit needs to be managed, it needs to be bridged because the gap is too large,'' said Rajan Mittal.

''We want to focus on power sectors investments. We are planning to invest in Gujarat,'' said Langye Sun, director of Dalian City.

Other participants of the meeting with the prime minister included the CEOs of Huawei, Shanghai Urban.

Shanghai is the last leg of the Prime Minister's visit after which he will leave for Mongolia.