The history of relations between India and China dates back to 2nd century BC and has translated into bilateral relations valued at over $ 85 billion in the 21st century. Today, the two Asian giants represent Asia’s two largest and most dynamic economies which are forming the face of the new world.
The modern relationship that both the countries enjoy began in April 1950, when India became the first non-socialist bloc country to establish diplomatic relations with the People’s Republic of China.
The Indian community in China is growing. Present estimates put the community strength to around 35,500. A major part of this comprises of students (over 18000), who are pursuing courses in various universities in China.
To enhance bilateral ties, India and China have established more than 30 dialogue mechanisms at various levels covering bilateral, political, economic and consular issues as well as dialogues on international and regional issues.
China-India trade was worth $ 2.8 bn in 2001 and has since increased by over 30 times to $ 87.1 bn in 2018-19. In 2018-19, the exports from India to China were valued at $ 16.8 bn while the imports from China to India were valued at $ 70.3 bn.
Exports to China have risen over 12 times since the year 2000 to reach $ 16.8 bn in 2018-19. Key exports to China include minerals, fuels, oil, organic chemicals, plastic and cotton.
Imports from China have risen by over 45 times since the year 2000 to reach $ 70.3 bn in 2018-19. Key imports from China include machinery & equipment, iron & steel, metals and textiles.
Chinese investors and Indian startups have found the perfect synergy in the last few years. Last year, at least 23 deals signed by Indian tech start-ups involved Chinese investors, which saw an influx of over $ 5 bn from China into India.
India and China have shared friendly relations since their first recorded contact dating back to the 2nd century BC. During this period, there have been political, diplomatic and people to people contact by land and sea.
In order to show its reverence towards historical civilizational contact between the two countries, India constructed a Buddhist temple in Luoyang, Henan Province in 2010. The temple was constructed inside the White Horse Temple Complex, which is believed to have been built in honour of Indian monks Kashyapa Matanga and Dharmaratna.
Bollywood movies were popular in China in the 1960s and 1970s and the popularity is being rekindled in recent times again. India and China have entered into an agreement on co-production of movies, the first of which, based on the life of the monk Xuan Zang hit the theatres in 2016.
"Colours of India" Festival, showcasing a unique blend of Indian performing arts, Bollywood movies and Indian photography, was held from 15 to 26 May 2017 at Beijing and Nanjing. The 2nd International Conference of Indologists was successfully held at Shenzhen from 11 to 13 November 2016.
Yuho Mobiles, owned by the Chinese firm UCT, plans to set up its second plant at Gurugram or Tirupati with an estimated investment of $ 11.5 mn to $ 14.4 mn. The company intends to export its phones to neighbouring countries.
Haier, the global leader in home appliances and consumer electronics, and also the world's #1 brand in major appliances announced an investment of over $ 427 mn in setting up their second industrial park in Greater Noida, Uttar Pradesh with an aim of two-fold revenue increase by 2020.
Chinese steelmaker Tsingshan Holding announced in Vibrant Gujarat 2019 to invest $ 3 bn to set up an electrical battery plant in Dholera, Gujarat to cater to the fast-developing auto industry in India. The company is currently setting up a steel manufacturing facility in Kutch with an expected annual capacity of 700,000 tonnes.
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