China, India Sign Landmark USD 20 B Deals

World » INTERNATIONAL BUSINESS | September 18, 2014, Thursday // 19:25
Bulgaria: China, India Sign Landmark USD 20 B Deals Chinese President Xi Jinping (L) shakes hands with Indian Prime Minster Narendra Modi after the joint statement at Hyderabad house in New Delhi, India, 18 September 2014. Photo by EPA/BGNES

Chinese President Xi Jinping's visit to India has resulted in a number of deals between the two countries in the fields of infrastructure, energy and industrial zones.

Xi met Indian Prime Minister Narendra Modi as Delhi and Beijing are embroiled in recent border dispute.

High-speed railroads are now to be built in India under the new deals, and cooperation in the aerospace and telecoms industry is to be boosted, Bloomberg has reported.

China and India are to work closer on the use of nuclear energy for peaceful purposes.

Trade turnover between the two neighbors, home to nearly a third of the world's population, has skyrocketed to USD 70 B (as of last year), from just USD 1 B in 2001.

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Tags: Xi Jinping, Narendra Modi, India, China
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