India-China bilateral trade hit a new record in 2023: Envoy.
India-China bilateral trade hit a new record in 2023: Envoy.
Current Affairs Daily Articles & Editorials
La Excellence IAS Academy | February 8, 2024 | International Relations
Syllabus: GS-II
Subject: International Relations
Topic: India & its neighbourhood.
Issue: India-China relations.
Tags: #India-China #Panchsheel #Bilateral_Trade.
Context: India-China bilateral trade reached a record high in 2023, surpassing $136.2 billion despite mid-year slowdowns.Key Points:
- India’s exports to China increased by 6%.
- Despite trade growth, there’s a 16-month absence of a Chinese Ambassador to Delhi, no direct flights, and lingering tensions at the Line of Actual Control (LAC).
- No direct reference was made to LAC tensions; instead, the focus was on the 70th anniversary of the India-China Panchsheel agreement, emphasizing peaceful coexistence.
Prelims Connect:
| The Panchsheel Agreement: (70th Anniversary):
Signed in 1954 between India and China, embodies five principles of peaceful coexistence: 1. Mutual respect for territorial integrity and sovereignty 2. Mutual non-aggression 3. Mutual non-interference 4. Equality and mutual benefit 5. Peaceful coexistence. · It was a key aspect of Nehru’s Hindi-Chini-Bhai-Bhai (India-China Brotherhood) agenda. · The agreement aimed to resolve disputes peacefully, but tensions resurfaced over territorial issues, leading to the 1962 Sino-Indian War. · Despite its strain, the Panchsheel Agreement remains significant in the history of India-China relations. |
Source: The Hindu
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