Aiming to further enhance trade and cooperation between the two fastest growing countries in the world, India on Wednesday decided to open an economic wing in the Indian embassy in China. The wing is expected to streamline the negotiating capabilities of the mission and also help in coordination on issues related to foreign
investment. The decision to this effect was taken at a meeting of the Union Cabinet chaired by Prime Minister Manmohan Singh. Revealing this an official release said, “The government has approved the proposal for creation of an economic wing in the embassy of India in Beijing. The wing will be headed by a minister (economic).”
The move will help India in dealing with matters relating to macro-economic coordination and the G-20, foreign investment, multilateral and bilateral borrowing or lending and financial sector developments in China and the Asia-Pacific region. This will play a key role in promoting Sino-India cooperation in large infrastructure projects.