If long-term investment flows and not trade flows are taken as the real yardstick for assessing the soundness and durability of the economic relations between two countries, India and China have still miles to go before they can celebrate.
After rallying 543 points in the morning session and touching the 40,000-mark, the BSE Sensex surrendered all gains to close at 38,628.29, showing a loss of 839.02 points or 2.13 per cent. Similarly, the NSE Nifty tanked 260.10 points or 2.23 per cent to end at 11,387.50.
The elephant in the room will permeate the conversations, predicts Rup Narayan Das.
When Vietnam's India born Foreign Minister Pham Binh Minh arrives in New Delhi on Wednesday evening, he will have many areas of similar interest to discuss with his counterpart, External Affairs Minister Salman Khurshid.
Consensus remained elusive on a common BRICS currency as business leaders from the five-bloc nations debated the pivotal issue at a business forum on the periphery of a summit of the five-member bloc being hosted here by South Africa. In their two addresses at the Summit so far, the leaders of Brazil, Russia, India, China and South Africa have made no or scant references to the issue either. "The BRICS Business Forum discussed the international payments system in detail. "Participants also debated the question of whether a BRICS currency is possible or desirable, with strong views expressed both for and against and little consensus reached," Sim Tshabalala, chief executive of Standard Bank Group, told several hundred captains of industry from the partner countries and over 40 other nations across the globe at the Summit.
The project, the agreement for which was signed way back in 2009, had been gaining strategic relevance over the years as India-China ties took a hit.
The Taliban insurgents stormed Afghanistan days ago capturing all major cities in a matter of days, two weeks before the US was set to complete its troop withdrawal after a vexatious two-decade war and the Kabul airport attack has left dozens dead and many injured.
'India's relationship with China has been and will continue to be complex, delicate and sensitive,' says Rup Narayan Das.
Addressing party MPs at the general body meeting of the Congress Parliamentary Party in the central hall of Parliament, she said when facing a significant national challenge, it has been the tradition in our country to bring Parliament into confidence.
Parliamentary Affairs Minister Prahlad Joshi has said that 31 bills will be taken up in the monsoon session. Among these include the Digital Personal Data Protection Bill, 2023.
In a strong response to China's objection to development of infrastructure on the Indian side of the LAC, New Delhi also asserted that Beijing has no locus standi to comment on India's internal matters.
The issue "will not affect" the "long-standing" economic and cultural ties between the two countries, a top Chinese official said.
'Clearly, there is a wide gap between the stated intentions of China's top leadership to improve relations with India and the PLA's aggressive border management,' says Brigadier Gurmeet Kanwal (retd).
'India should be adequately prepared for further Chinese mis-adventures at any time in the next few years.'
External Affairs Minister S Jaishankar is set to hold separate bilateral talks with his Chinese counterpart Qin Gang and Russia's Sergey Lavrov at a beach resort in Goa on Thursday on the sidelines of a conclave of the Shanghai Cooperation Organisation (SCO) amid rapidly evolving regional security situation.
Axis Bank was the top loser in the Sensex pack, dropping around 5 per cent, followed by Tech Mahindra, SBI, L&T, IndusInd Bank, Infosys and NTPC. On the other hand, HDFC Bank, HUL, Kotak Bank and Bharti Airtel were among the gainers.
The Chinese authorities have been rapidly building defence infrastructure along the Line of Actual Control, indicating that they are preparing for a long period of tension with India, points out Jayadeva Ranade, the former senior RA&W officer and China expert.
Sources said Wang is primarily visiting India to hold boundary talks with National Security Advisor Ajit Doval.
'We will stand with friends, partners and allies to advance our shared prosperity, security and values in the Indo-Pacific region'
'Problems will keep recurring unless China vows to resolve all outstanding issues between the two sides,' says Sana Hashmi.
It will be Putin's first participation in a multilateral summit after a mercenary group launched a short-lived armed rebellion last week that rocked Moscow.
'India and China are already in a warlike situation.'
'Since the bilateral deficit is a reality -- and a worry -- we need to find a way to deal with it,' says Ravi Bhoothalingam.
National Security Advisor Ajit Doval and his Chinese counterpart Yang Jiechi will meet in Hyderabad in November first week for informal dialogue on the state of bilateral relations
The official told the reporters during a conference call on Friday, ahead of the next week's 2+2 India-US Ministerial in New Delhi, that the Trump administration was providing support to India through defence sales, joint military exercises and information sharing.
Chinese media on Wednesday criticised the western media for attempting to drive a "wedge" between India and China.
Following is the full text of Prime Minister Manmohan Singh's speech at the Central Party School in Beijing on Thursday:
During the meeting on the sidelines of the 11th BRICS Summit on Wednesday, prime minister Modi said there was a "new direction and new energy" in bilateral ties after the two leaders' second informal summit in Chennai.
China said that it had put off the visit of Indian pilgrims who enter Tibet via the Nathu La pass "for safety reasons" in view of the border issue.
The time is ripe to extend the confrontation with the Chinese to the maritime domain, says former RA&W officer Krishan Varma.
In his opening remarks at the virtual summit of the Shanghai Cooperation Organisation (SCO), Modi also said that some countries use cross-border terrorism as an instrument of their policy and the grouping must not hesitate to criticise them.
Xi will attend the second informal meeting with Modi at Mahabalipuram near Chennai from October 11 to 12 and pay a state visit to Nepal on October 13, Foreign Ministry spokesperson Hua Chunying announced on Wednesday.
'The Ladakh Scouts are a fantastic mountain troops suited to this terrain.' 'Other troops have to first get acclimatised, but these men are tough mountain people.'
Jaishankar's talks with Yang and later in the Strategic Dialogue were expected to cover the key India-China differences like China blocking India's bid to join the NSG and UN ban on Azhar.
A high degree of mistrust continues to strain the bilateral relationship between India and China, the Pentagon has informed the United States Congress. New Delhi remains concerned by China's close military ties with Pakistan and its growing footprint in the Indian Ocean, Central Asia and Africa, Pentagon said in its annual report.
"Discussions are on; what is going on is something confidential between us and the Chinese," he said when the moderator at the Bloomberg India Economic Forum pressed the minister to give a clear status of the border situation.
How should one interpret the new bonhomie between the two nations?
'For the common man, the economic conditions are not going to get better.'
India and China will hold the 15th bilateral round of talks in this capital with an agenda to address border claims, visas, cooperation and improve current bilateral trade from $60 billion to $100 billion by 2015.
Observers say China should re-address its policies towards India or else it will continue to face flare-ups increasing the tensions between the two countries at a time China's increasing tension with the US over Taiwan and the South China Sea besides the downturn in the Chinese economy which is hit hard by the zero-covid policy.
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