Taking a leap forward towards closer co-operation, India and china agreed to adopt new themes and initiatives for mutually beneficial growth during the recently concluded 4th India –China Strategic Economic Dialogue (SED) in New Delhi on 7th.
During the dialogue between the governments think-tanks of the two coun¬tries — India's NITI Aayog and National Development and Reform Commission of China — it was concluded that dia¬logue and communication can serve as a powerful tool for greater cooperation between the two.
Highlights of the Dialogue: Both countries agreed to cooperate on sourc¬ing energy from international markets, construction of high-speed railway and development of coastal manufacturing zones as the two fastest growing econo-mies look to boost growth. Under the theme 'Development, Innovation and Cooperation for Mutual Benefit', the dialogue was carried around five working groups in different fields.
GREEN ENERGY
The Working Group on Energy agreed for cooperation in renewable energy promotion both in manufacturing as well as generation of wind and solar energy and the Chinese investors showed keen interest in investing in large solar park projects in coopera¬tion with solar energy corporation of India (SECI).
India offers huge investment opportu¬nities in the renewable energy sector by way of participation through eq¬uity support, offsetting hedging cost, taking up masala bonds, partnering in the solar projects etc.
According to the minutes of the meet¬ing released, the two sides called "for a joint strategy to meet the rising energy demand through appropriate policy measures and efforts in the international energy markets."
COAL ENERGY
• Both sides also exchanged the status on coal development in India and China. The Indian side proposed scope for technical cooperation in promoting underground coal mining technologies and coal gasification, while the Chinese side proposed cooperation in promoting clean coal technologies including environment friendly mining, coal processing, un¬conventional gas (CBM) and efficient use of coal The two sides expressed their willing¬ness to jointly set up a Power Plant O&M Service Centre and the Chinese side has presented a detailed plan of action.
INFRASTRUCTURE
The Working Group on Infrastructure reviewed the progress in areas such as feasibility study of raising speed of existing railways, feasibility study of high-speed railway, personnel training, and study on railway station redevelopment.
• The two nations agreed to push forward the feasibility study on Delhi-Nagpur high-speed railway and construction of Delhi-Chennai high-speed railway. China Southwest Jiaotong University and Training Department of the Ministry of Rail¬ways of India will hold eight training courses in the field of high-speed railway.
It was also noted that China Railway Eryuan Engineering Group Co Ltd has officially delivered the interim final feasibility study report on Chennai¬Bengaluru-Mysore railway upgrada¬tion project to India High-speed Railway Company. After modifica¬tion and improvement of the report, the two sides will discuss further cooperation and research on project implementation.
COASTAL MANUFACTURING ZONES
• At the Working Group on Policy Coordination, the NITI Aayog pro¬posed closer integration with the National Development and Reform Commssion of China (NDRC) and NIT! Aayog on understanding China's huge success in development of coastal manufacturing zones and agreed to adopt new theme of closer cooperation on coastal manufacturing zone development by encouraging projects in areas like infrastructure, automobile, energy and electronics in next one year.
During the dialogue between the governments think-tanks of the two coun¬tries — India's NITI Aayog and National Development and Reform Commission of China — it was concluded that dia¬logue and communication can serve as a powerful tool for greater cooperation between the two.
Highlights of the Dialogue: Both countries agreed to cooperate on sourc¬ing energy from international markets, construction of high-speed railway and development of coastal manufacturing zones as the two fastest growing econo-mies look to boost growth. Under the theme 'Development, Innovation and Cooperation for Mutual Benefit', the dialogue was carried around five working groups in different fields.
GREEN ENERGY
The Working Group on Energy agreed for cooperation in renewable energy promotion both in manufacturing as well as generation of wind and solar energy and the Chinese investors showed keen interest in investing in large solar park projects in coopera¬tion with solar energy corporation of India (SECI).
India offers huge investment opportu¬nities in the renewable energy sector by way of participation through eq¬uity support, offsetting hedging cost, taking up masala bonds, partnering in the solar projects etc.
According to the minutes of the meet¬ing released, the two sides called "for a joint strategy to meet the rising energy demand through appropriate policy measures and efforts in the international energy markets."
COAL ENERGY
• Both sides also exchanged the status on coal development in India and China. The Indian side proposed scope for technical cooperation in promoting underground coal mining technologies and coal gasification, while the Chinese side proposed cooperation in promoting clean coal technologies including environment friendly mining, coal processing, un¬conventional gas (CBM) and efficient use of coal The two sides expressed their willing¬ness to jointly set up a Power Plant O&M Service Centre and the Chinese side has presented a detailed plan of action.
INFRASTRUCTURE
The Working Group on Infrastructure reviewed the progress in areas such as feasibility study of raising speed of existing railways, feasibility study of high-speed railway, personnel training, and study on railway station redevelopment.
• The two nations agreed to push forward the feasibility study on Delhi-Nagpur high-speed railway and construction of Delhi-Chennai high-speed railway. China Southwest Jiaotong University and Training Department of the Ministry of Rail¬ways of India will hold eight training courses in the field of high-speed railway.
It was also noted that China Railway Eryuan Engineering Group Co Ltd has officially delivered the interim final feasibility study report on Chennai¬Bengaluru-Mysore railway upgrada¬tion project to India High-speed Railway Company. After modifica¬tion and improvement of the report, the two sides will discuss further cooperation and research on project implementation.
COASTAL MANUFACTURING ZONES
• At the Working Group on Policy Coordination, the NITI Aayog pro¬posed closer integration with the National Development and Reform Commssion of China (NDRC) and NIT! Aayog on understanding China's huge success in development of coastal manufacturing zones and agreed to adopt new theme of closer cooperation on coastal manufacturing zone development by encouraging projects in areas like infrastructure, automobile, energy and electronics in next one year.
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