Time for deeper China-India cooperation

Indian Prime Minister Narendra Modi's three-day visit to China from Thursday is expected to strengthen ties between the two neighbors and deepen bilateral economic and trade cooperation.

Modi has launched several initiatives to expedite India's economic growth since being elected prime minister in May 2014. His focus is on boosting the manufacturing sector, which has relatively low efficiency and technology levels, and is wanting in global competitiveness.

In comparison, China has achieved remarkable breakthroughs in various industries since the launching of reform and opening-up, and its manufacturing sector has prospered. In fact, China's manufacturing sector faces the problem of overcapacity in some areas. A World Bank survey shows manufacturing accounted for 12.9 percent of India's GDP in 2013, compared with 31.8 percent of China's. This means there is huge potential for deepening bilateral cooperation in trade and economic fields, especially in the manufacturing sector.