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Rediff.com  » Business » Why Jaitley is upbeat about Sino-Indian ties

Why Jaitley is upbeat about Sino-Indian ties

April 19, 2016 10:49 IST

Shaktikanta Das, Secretary of the Department of Economic Affairs in the Indian Ministry of Finance, CII President Naushad Forbes, Keynote Speaker : Arun Jaitley, the Minister of Finance, Corporate Affairs, and Information and Broadcasting in the Government of India, ASPI President Kevin Rudd and Ambassador of India to the US Arun Kumar Singh at Asia Society New York, April 18 2016.

IMAGE: (From left) Shaktikanta Das, Secretary of the Department of Economic Affairs in the Indian Ministry of Finance, Naushad Forbes, CII President, Arun Jaitley, Minister of Finance, Corporate Affairs, and Information and Broadcasting in the Government of India, Kevin Rudd, ASPI President and Arun Kumar Singh, Ambassador of India to the US at Asia Society New York, April 18 2016. Photograph: Paresh Gandhi/Rediff.com

Economy is leading the way in the relationship between India and China, Finance Minister Arun Jaitley said.

The minister stressed that the two largest economies in the region are seeing an uptick in investment and trade issues are being sorted out.

"As far as the economic relationship (between India and China) is concerned, that is significantly improving almost by the day," Jaitley said in response to a question on the India-China economic relationship following his address at the Asia Society in New York on Monday.

Finance Minister Arun Jaitley

IMAGE: Economy is leading the way as far as the relationship between the two countries is concerned, says Arun Jaitley. Photograph: Paresh Gandhi/Rediff.com

"You have two very large economies in the region where trade is picking up, trade issues are sorted out, investments are taking places," he said after his talk on 'Make in India -- The New Deal' presented by Confederation of Indian Industry in partnership with the Asia Society Policy Institute.

Jaitley emphasised that Indian industry has set up establishments in China and Chinese investments have also come into India in "a big way".

"Economy is leading the way as far as the relationship between the two countries is concerned," he said.

Finance Minister Arun Jaitley

IMAGE: Arun Jaitley at Asia Society New York, April 18 2016. Photograph: Paresh Gandhi/Rediff.com

On the need for improving air connectivity between New Delhi and Beijing, Jaitley said there are several private and state airlines operating in India and China and anyone of these airlines 'will now have to take the initiative' to expand services between the two nations.

He cited the example of India's direct connectivity with Australia, Japan and the US west coast, adding that 'it is only a matter of time before' more direct flights between India and China come up instead of just one or two operating services between the two.

Yoshita Singh in New York
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