It is clear that both India and China are keen on attaching greater emphasis to bilateral trade and are putting the geopolitical issues on the back-burner

It may be a mere coincidence, but in the last few weeks, India received two special envoys, Russian Deputy Premier Dmitri Rogozin and Wang Li, Foreign Minister of China, representing President Putin and President Xi Jinping, respectively. Both had different agendas, but, at the same time, there was a common link with India as a likely partner in the emerging energy alliance!

Russia's giant gas pipe line - called the Altai gas pipe line and West-East gas pipe line - starting at Novi Urencoy and Purpeiskaya, will cover a total estimated distance of 2600 Kms and supply Russian gas to far flung cities like Shanghai and Nanchang in China. This project is valued at $ 400 billion, and, by the looks of it may eventually cover other prospective consumers like Mangolia, Nepal and India. Already, during his visit, Dmitri Rogozin has appraised the details and have sought India to join the energy alliance. This pipe line needs a southern diversion to serve India.

Last year, in October 2013, Chinese President Xi Jinping unveiled plans to set up the Asian Infrastructure Investment Bank, with a registered capital of $ 100 billion, and broadly outlined that this Bank would be able to provide a new financial channel to developing nations in Asia Pacific region. In fact, it is reported, as many as 22 countries have shown interest in this project.

Last month, China invited India to participate in the Bank. Such a move, in the long run, would facilitate access to infrastructure funding. At the moment, India has neither accepted or declined the invitation, and considering the pros and cons.

At the moment, the Asian Development Bank (ADB), with a capital of $165 billion, is dominated both by Japan and USA. China firmly believes that the setting up of AIIB (Asian Infrastructure Investment Bank) would reduce dependence on western backed lenders, such as the World Bank and ADB.

In a separate press report, it has been stated that, according to a study made by ADB, Asian nations would require funding of $800 billion every year till 2020 for developing infrastructure. India's partipation in AIIB would enable its easy entry into the Shanghai Cooperation Organization where, India, Iran and Pakistan have "observer" status now.

It is said that Shanghai Cooperation Organization (SCO), principally moved by China and Russia would be central in defining the "balance of economic and political power" in Eurasia!

It may be noted that, recently Russia and China signed the $ 400 billion gas pipe line, as mentioned above, and Dmitri Rogozin, deputy prime minister, stated in Delhi, that extension of this pipe line to India would be "one of the largest infrastructure projects that could be conceived".

In the meantime, India's vice president, Hamid Ansari joined Chinese president Xi Jinping and Myanmar President Thein Sein in the commemoration ceremony of the Panchsheel at the great hall of China, in Beijing, highlighting the achievements of the last 60 years, of adhering to the territorial integrity and sovereignty, mutual non-aggression and non interference in internal matters and peaceful coexistence.

The developments in Indo-China relations, in the recent weeks, have come to show the importance attached by both sides in trying to move on by establishing greater emphasis on trade and putting the geopolitical issues on the back-burner.

While India wants to set up technical parks in China, mainly in Pharmaceutical and Information Technology sectors, there is growing interest in setting up similar parks in India, in UP, Andhra Pradesh, Gujarat, Maharashtra and Karnataka. A 20-member delegation from China have already visited India and shortlisted three locations near Sanad in Ahmedabad district, Gujarat, to set up their units in the industrial park, with an initial investment of $1 billion.

It is reported in the press that Dr Nirmala Sitharaman does not consider China as a "threat", but rather views it as an "opportunity" as many things that China presently exports to India could be easily produced here whereby employment potential would increase. Already Chinese firms like Huawei and ZTE have invested in India but security clearances have not been easy. China has shown interest to fund 30% of India's infrastructure requirements.

In a separate development, China's foreign minister Wang Li has confirmed during his recent visit to India that President Xi Jinping would plan a visit to India. Wang, as reported above, has come as a special envoy of President Xi Jinping and has stated that "China stands by your side throughout your efforts of reform and development and in your pursuit of dreams". He expressed confidence that both sides could address differences over the boundry disputes" and insist on "managing differences through dialogues instead of confrontation".

These assurances are extremely pleasing to hear and it is hoped that both sides settle their differences and strictly adhere to the principles enshrined in the Panchsheel. China needs to give up its territorial extension in claiming Aruna Chal as its territory and show their integrity in returning the occupied Indian lands illegally surrendered by Pakistan.

(AK Ramdas has worked with the Engineering Export Promotion Council of the ministry of commerce. He was also associated with various committees of the Council. His international career took him to places like Beirut, Kuwait and Dubai at a time when these were small trading outposts; and later to the US.)