India, China meet at BRICS

India’s Prime Minister Shri Narendra Modi met China’s President Xi Jinping on the sidelines of the 11th Brazil-Russia-India-China-South Africa, or BRICS, summit. The leaders decided that a new committee, set up to discuss ways to trim the U$ 53-billion trade deficit between the two countries, should meet at an early date. The ministerial group headed by Finance Minister Nirmala Sitharaman and China’s Vice Premier Hu Chunhua could explore a bilateral understanding on an auto-trigger mechanism coming into effect if imports from China surge beyond a point. They could also talk about India’s concerns on rules of origin such as Chinese goods making their way into India through a third country.

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