New Delhi: Amid the differences between India and China over the former’s bid for NSG membership, a high-level financial dialogue between the two countries scheduled next week has now been postponed to July.
Financial dialogue between the secretaries was to be held in Beijing during Finance Minister Arun Jaitely's 5-day visit which begins on Thursday.
According to reports, the deferment has been necessitated because of inability of India's Economic Affairs Secretary Shaktikanta Das to travel to Beijing for the meeting which was scheduled for June 27.
Das was asked to stay back in Delhi in view of the voting on Brexit which is taking place today to decide whether Britain should stay in the European Union or not which will have implications for India.
However, Arun Jaitley, who is embarking on a five-day visit to China today, will meet his counterpart Lou Jiwei as scheduled on June 27.
Fresh dates for the financial dialogue at the level of Secretaries in July are being worked out.
The two countries have so for had seven rounds of financial dialogue at the level of Finance Secretaries, the last being in New Delhi in 2014.
This is the first time it was elevated to level of Finance Ministers of both countries. The seventh dialogue was held in New Delhi in 2014.
It was officially circulated earlier that the dialogue would be held between the two Ministers on June 27.
The dialogue enables the two countries to annually review and discuss a wide gamut of international, bilateral issues for strengthening and deepening economic and financial cooperation between the two countries.
It was conceptualised in 2003 and the framework was formalised through an MoU signed in April 2005.
The postponement of the June 27 meeting comes in the backdrop of India-China differences over New Delhi’s admission into the Nuclear Suppliers Group (NSG).
During his visit to China, which is the first after he took over as finance minister, Jaitley is due to address meetings of bankers and wealth fund managers and business investors meeting to scout for investments in India.
He is also due to attend the Board of Governors meeting of the China-sponsored Asian Infrastructure Investment Bank (AIIB) in which India, along with 56 countries, is a member.
(With inputs from PTI)
