The sixth India-China Strategic Economic Dialogue (SED) meeting here on Monday decided to promote pragmatic cooperation and strengthen complementary advantages in the pharmaceutical industry and explore cooperation for promoting Indian generic drugs and Chinese APIs.
The meeting also held discussions on taking forward the study project exploring the possibility of Delhi-Agra high-speed railway and on next-generation mobile communications in the two countries.
The two sides agreed for cooperation in research and development for developing new technology for manufacturing solar cell from alternate material and improving the efficiency of solar cells. They also agreed on cooperation in the field of e-mobility and energy storage.
A Niti Aayog release said that after the conclusion of three-day SED meeting on Monday that the six working groups held "pragmatic and outcome-oriented deliberations" and arrived at agreements.
Policy Coordination Working Group reviewed trade and investment climates in order to mutually identify complementarities. Potential areas of collaboration across innovation and investment focusing on fintech and related technologies were discussed.
In the meeting of Working Group on Infrastructure, the two sides noted the "significant progress" made in the feasibility study on Chennai-Bangalore-Mysore railway upgradation project.
"They held detailed discussions on identifying the next steps in all areas of cooperation as well as on taking forward the study project exploring the possibility of Delhi-Agra high-speed railway in the pilot section," the release said.
The Working Group on High-Tech exchanged views on regulatory procedures of ease of doing business, development of artificial intelligence, high-tech manufacturing, and next-generation mobile communications of both countries.
Discussions were held on technological innovation, industrial situation, and mechsm for further strengthening cooperation as well as on India-China digital partnerships, data governance, and related industry policy.
Working Group on Resource Conservation and Environmental Protection reviewed progress in water management, waste management, construction, and demolition waste and resource conservation and the role of innovation.
Effective utilisation of low-cost construction technology, methods of flood and erosion control, air pollution were also discussed.
They discussed cooperation in areas like waste-to-power, co-processing of sewage sludge and stormwater management. The two sides agreed on continued interaction and exchange of relevant information more frequently in these areas.
In the meetings of Working Group on Energy, the two countries identified future areas of collaboration and resolved to work in renewable energy, the clean coal technology sector, smart grid and grid integration, smart meters and e-mobility sectors.
In the meetings of Working Group on Pharmaceuticals, the two sides noted that they should strengthen communication to promote pragmatic cooperation.
"It was also decided that both sides should promote pragmatic cooperation, strengthen complementary advantages in the pharmaceutical industry and explore cooperation for promoting Indian generic drugs and Chinese APIs. This will benefit the development of the pharmaceutical industry in both countries," the release said.
It said that the two sides have achieved concrete outcomes through "pragmatic and outcome-oriented deliberations".
"The two sides agreed to effectively utilise the SED mechsm as an over-arching and permanent instrument to address outstanding issues and identify potential areas of collaboration.
SED was set up as a mechsm for enhancing bilateral practical cooperation between the erstwhile Planning Commission and the National Development and Reform Commission (NDRC). NITI Aayog after its formation has taken the dialogue forward.
The annual dialogue under SED Mechsm is held alternately in the capital cities of the two countries.
While the second SED in 2012 at New Delhi decided to constitute five standing Joint Working Groups (JWGs), the working group on pharmaceuticals was constituted after the 5th SED.
The Indian side at the sixth SED, held from September 7 to 9, was led by NITI Aayog Vice Chairman Rajiv Kumar and the Chinese side by He Lifeng, Chairman, NDRC.
( With inputs from ANI )