NITI Aayog to engage with its Chinese counterpart Development Research Commission

NITI Aayog, the government’s premier think tank, will carry on the legacy of its predecessor Planning Commission to engage in dialogue with its Chinese counterpart the Development Research Commission to undertake joint studies in economic policy research and development planning.

Top officials of NITI Aayog, led by its vice chairman Arvind Panagariya, will be in Beijing next week for a two-day dialogue starting from Monday with top brass of DRC on trade, energy and infrastructure related issues between the two countries.

According to the draft agenda issued by the Aayog, the three sessions would focus on the opportunities and challenges before India and China in the global economic restructuring, implications of regional trade associations for India and China and strengthening of the Sino-Indian economic cooperation.

Like in the past, the two sides are expected to discuss counter strategies to the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP) besides addressing the “unsustainability of the imbalance” in Indo-China trade.

Trade deficit between India and China increased about 34% to $48.43 billion in 2014-15 from $36.21 billion in the previous fiscal with India’s exports to China at $11.95 billion while imports from China stood at $60.39 billion.