Important Facts For Prelims
Sixth India-China Strategic Economic Dialogue
- 10 Sep 2019
- 1 min read
Recently, the sixth India-China Strategic Economic Dialogue (SED) was held in New Delhi.
- Under the aegis of the SED, representatives of various economic sectors deliberate for enabling ease of doing business and facilitating bilateral trade and investment flows.
- During SED, discussions were held on infrastructure, energy, resource conservation and policy coordination.
- The two sides also 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.
Background
- SED was set up by the agreement between erstwhile Planning Commission of India and the National Development and Reform Commission (NDRC), China during the visit of Chinese Prime Minister Wen Jiabao to India in December 2010.
- Since then SED has emerged as a crucial mechanism to facilitate bilateral trade and investment flows and enhance economic cooperation.
SED is significant because the bilateral trade between India and China stood at $87 billion in 2018-19 and the trade deficit stood at $50 billion in favour of China.
