India, China Must Unite for Stable World Economy: PM’s Message From Japan

In a significant statement made from Tokyo, Prime Minister Narendra Modi on Friday called for India and China to work together to bring stability to the global economic order, particularly amid the uncertainties triggered by US tariff measures. Emphasizing that stable and friendly relations between the two Asian giants are vital for global peace, PM Modi’s remarks came just a day before his crucial visit to China for the Shanghai Cooperation Organisation (SCO) summit.

“Given the current volatility in the world economy, it is also important for India and China, as two major economies, to work together to bring stability to the world economic order,” PM Modi stated in an interview with the Japanese daily Yomiuri Shimbun. He added, “India is ready to advance bilateral relations from a strategic and long-term perspective on the basis of mutual respect, mutual interest and mutual sensitivity.”

The Prime Minister’s call for collaboration comes as both nations face significant economic pressure from Washington. The US has imposed a 50% tariff on India over its Russian oil trade and has threatened China with cumulative tariffs of up to 145%. This shared challenge forms a crucial backdrop to Modi’s message of unity.

Highlighting a recent thaw in relations after a prolonged period of border tensions, PM Modi noted that there has been “steady and positive progress” in India-China ties since his last meeting with President Xi Jinping in Kazan. This diplomatic reset has seen the disengagement of troops from some contested border areas and a renewed focus on economic cooperation.

“Stable, predictable, and amicable bilateral relations between India and China, as two neighbours and the two largest nations on earth, can have a positive impact on regional and global peace and prosperity. This is also crucial for a multi-polar Asia and a multi-polar world,” PM Modi asserted.

The Prime Minister is currently in Japan for an official visit and will travel to Tianjin on August 31 for the SCO summit at the invitation of President Xi. The meeting is seen as a key opportunity to build on the recent positive momentum and discuss shared regional and global interests.