India-China economic relationship is rising: FM
Economy is leading the way as far as the relationship between India and China is concerned, Finance Minister Arun Jaitley said at Asia Society in New York on Monday.
Jaitely stressed that the two countries have continuously been working towards enhancing their economic relations by encouraging bilateral investments and sorting out trade issues.
“Trade is picking up. Trade issues are sorted out. Investments are taking place. Indian industries have gone and setup establishments in China and Chinese investments have come into India in a big way. Economy is leading the way as far as the relationship between the two countries is concerned,” Jaitley said responding to a question on the current India-China economic relationship.
“As far as the economic relationship (between India and China) is concerned, that is significantly improving almost by the day,” he said.
When asked about the needs and steps of enhancing air connectivity between New Delhi and Beijing, The Finance Minister said there are several state and private airlines operating in China and India, and anyone of these operators will need to take initiative for expansion of services between the two nations.
Jaitely said it is just a matter of time before the number of direct flights between the two countries goes up, instead of just one or two operating at the moment.
Earlier in his speech at the Asia Society, Jaitley underscored that India still needs a number of structural changes to ease processes, bring in transparency and make the whole process of doing business easier.
He, however, said the government has been taking policy-reforms-related initiatives and the result of those initiates has already begun to reflect.
to success.