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SCO: China, Russia to open up markets for Indian trade

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The meeting between Modi and Xi.

New Delhi\Bishkek, June 13. Prime Minister Narendra Modi on Thursday received assurances of significant trade and investment opportunities in bilateral meetings with Chinese President Xi Jinping and Russian President Vladimir Putin. Modi and several other world leaders are in Bishkek to participate in a summit meeting of the Shanghai Cooperation Organisation on Friday.

In a brief discussion on Pakistan with Xi, Prime Minister Modi said India’s position was to peacefully utilise bilateral mechanisms to settle disputes. He had personally invested in the relationship but his efforts had been derailed.

“The PM informed Xi that Pakistan needs to create an atmosphere free of terrorism but India did not see it as happening,’’ said Foreign Secretary Vijay while briefing newspersons.

While Kremlin offered India scope for investment in Russia’s Far-East and Arctic regions, China said it had dismantled regulatory procedures that would lead to an “uptick” in Indian exports of non-Basmati rice, sugar and pharmaceuticals.

Xi assured Modi that China was in the process of dismantling even more regulatory barriers. Xi had made a similar promise at the Second Belt and Road summit in April this year.

In the meeting with Putin, PM Modi promised to visit the Russian Far East in September where he will interact at a greater length with the Russian President.

Modi’s visit to Vladivostok will be preceded by tours of the Far East by delegations from Indian states who will scout for business opportunities.

India also accepted Russia’s offer for investing in major oil exploration projects. Modi said skilled Indian manpower could be used to develop the region.

Foreign Secretary Vijay Gokhale said the two leaders did not discuss any specific military equipment nor could regional issues be aired due to paucity of time.

Prime Minister Modi’s meeting with the Chinese President was relatively brief. The discussions mostly revolved around speeding up of border talks and smoothening bilateral trade. —Agencies

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