Commerce and Industry Minister Piyush Goyal said on Tuesday that India-China relations are gradually returning to normalcy. He stated that as border issues are resolved, tensions will decrease.
New Delhi: Commerce and Industry Minister Piyush Goyal said on Tuesday that India-China relations are gradually normalizing. He also stated that as border disputes are resolved, tensions will decrease and bilateral cooperation will be boosted. Goyal's statement came after the Shanghai Cooperation Organisation (SCO) summit, where a significant meeting took place between Prime Minister Narendra Modi and Chinese President Xi Jinping. During the meeting, both sides agreed to find a fair, just, and mutually acceptable solution to the India-China border dispute.
Discussions at the SCO Summit
In the presence of Pakistan Prime Minister Shehbaz Sharif, Chinese President Xi Jinping, and other global leaders at the summit, Prime Minister Modi emphasized the fight against global terrorism, calling it "our duty towards humanity." During the meeting, both countries recognized the role of each other's economies in global trade stability and resolved to enhance trade and investment relations.
When journalists asked Goyal if there was a possibility of relaxation in Press Note 3 (PN3) if India-China relations were normalizing, the minister clarified that the incidents in गलवान had caused some strain in the relationship, but it was natural for bilateral relations to normalize as border issues are resolved. Goyal also stated that currently, for countries sharing a land border with China, government approval is mandatory for Foreign Direct Investment (FDI) in all sectors. This policy was implemented in April 2020 as Press Note 3 (PN3).
Border disputes between India and China had impacted bilateral relations over the past few years, with tensions particularly observed in the relationship after the Galwan Valley incident. However, after the SCO summit meeting, both countries agreed to work towards a resolution through dialogue.
