Modi Wins $20 Billion Xi Pledge Amid India-China Border Spat
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Indian Prime Minister Narendra Modi won a pledge from Chinese President Xi Jinping to invest $20 billion as the leaders sought to adjust a lopsided trade relationship and resolve a flare-up on their disputed border.
Leaders of the world’s two most populous countries today announced a five-year plan in which China would invest $20 billion to help reduce India’s largest trade deficit with any single country. China will also help set up industrial parks in the Indian states of Maharashtra and Gujarat, which Modi ran before taking power in May.