Significantly, Wang's visit also comes just days after Chinese troops "transgressed" the border on land and by air in Chamoli district of Uttarakhand last month.
China also stalled India's Nuclear Suppliers Group (NSG) membership bid at the Plenary meeting of the 48-nation grouping in June on the grounds that it was a non-NPT signatory.
Announcing the visit, External Affairs Ministry Spokesperson Vikas Swarup said the leaders will discuss various issues of mutual interests including the upcoming multilateral meetings with G-20 Summit being held in China and the BRICS Summit being held in India.
When asked whether India will raise the recent incident of transgression in Uttarakhand at the meeting, Swarup said, all international, regional and bilateral issues of mutual interest will be discussed.
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However, he added that the Defence Minister has already made a statement and there are mechanisms, including at army- to-army level, to take care of such incidents.
According to sources, the Indian side is likely to raise the issue of China scuttling India's NSG membership bid.
"Visit of Foreign Minister Wang to India is part of the regular high level dialogue between the two countries," Swarup said.