India, China sign first IT pact

India, China sign first IT pact
PRESS TRUST OF INDIA

India and China today signed the first-ever memorandum of understanding (MoU) to strengthen bilateral cooperation in critical areas of information technology (IT) and boost strategic business partnerships.

The MoU was signed by visiting Information Technology Minister Pramod Mahajan and his Chinese counterpart Wu Jichuan here. "Under the MoU, the two ministries would exchange policies and strategies on IT industry, encourage mutual investment, establish joint ventures and transfer technologies," Mahajan told PTI.

He said that the two sides have identified a number of areas for future cooperation including in enterprise network, micro-electronic technology and integrated circuit, software and its application and products.

Valid for five years, the MoU would enhance Sino-Indian cooperation in IT and encourage economic and technical cooperation between enterprises, research institutes and economic entities, he said.

Mahajan, who is here on a five-day official visit as Wu's guest, described the MoU as a breakthrough in Sino-Indian cooperation hoping that it would lead to enhanced science and technology cooperation between the two neighbours in the new millennium.