Business

India, China mull landmark agreement to promote bilateral trade

India and China are likely to enter into a landmark agreement during Prime Minister Narendra Modi's visit to the neighbouring country to create a platform for cooperation between Indian states and Chinese provinces that will help promote bilateral trade and investments.

"The two countries hope to agree to create a platform that will enhance cooperation between chief ministers of India and governors of Chinese provinces. This could be concluded during PM Modi's visit to China in May," China's Ambassador to India Le Yucheng said. The first such framework between the two countries will be inspired by similar platforms that China has with the US and Russia.