Setting aside their diplomatic differences, India and China have agreed to enhance economic cooperation in key areas, such as the construction of high-speed railway and development of coastal manufacturing zones and sourcing energy from the international markets.

The decision for mutual economic cooperation was made at the 4th India-China Strategic Economic Dialogue that was held on Oct. 7 in New Delhi.

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Based on the minutes of the meeting released on Thursday, the two countries have called "for a joint strategy to meet the rising energy demand through appropriate policy measures and efforts in the international energy markets."

The minutesIt was further disclosed that both countries have committed to plan out for the enhancement of their cooperation in all the key areas.

To increase cooperation on coastal manufacturing zone development, they have agreed to look to encourage projects in areas like infrastructure, automobile, energy and electronics in coming one year.

They will increase cooperation in high-speed railway construction by conducting feasibility study on Delhi-Nagpurhigh-speed railway and construction of Delhi-Chennai high-speed railway.

China and India will join hands as well for the development of solar cell/module manufacturing and increase awareness on solar rooftop across the country.

Amid this move, Chinese investors are expected to reap huge benefits in India's renewable energy sector by participating through equity funds, investment in masala bonds and partnership in solar projects.

India and China are two of the fastest-growing economies in the world. IMF and World Bank have described both economies as a much-needed "silver lining" despite ongoing global slowdown. Through enhanced economic cooperation, the two Asian countries are seeking to boost their economic growth.

Although diplomatic tensions continue to cast shadow on bilateral relationship, China and India have remained adamant on enhancing their economic ties.     

TagsIndia, china, India and China, India and Chinese Economy