Delivering a lecture at the elite Peking University here, Mukherjee noted that there is bipartisan commitment to strengthening partnership with China, and said political understanding between the two countries is vital for "closer developmental partnership".
He said he was "confident that by placing these eight pillars at the foundation of a people-centric approach, we can sufficiently enhance and strengthen our cooperation to the mutual benefit of both our peoples".
"One of the ways it could be done is through enhanced political communication. In India, we have a bipartisan commitment to strengthening our partnership with China. The frequent contacts between our respective leaders bear testimony to this.
India and China have differences over the 3,488 km-long border. While Beijing says that the boundary dispute is confined to 2,000 kms, mainly in Arunachal Pradesh in eastern sector which it claims as part of southern Tibet, India asserts that the dispute covered the whole of the Line of Actual Control including the Aksai Chin occupied by China during the 1962 war.
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"Both sides should work with the aim of ensuring that we do not burden our coming generations by leaving our unresolved problems to them. I am confident that by ensuring that these matters are not aggravated and by remaining sensitive to mutual concerns, we can minimise our differences and maximise our convergences," he said.
The President said it was incumbent on India and China,
as emerging powers, to remain equally focused on nurturing global prosperity.
"We both are at the threshold of an opportunity to join hands and create a resurgence, a positive energy, an "Asian Century". This will not be an easy task. We will need to overcome obstacles with resolve and fortitude. We must preserve to realise this dream. We can do this together. We can do it if we join hands in a durable friendship," he said.
Expressing happiness over the steadily diversifying bilateral relationship in every area of common interest, he said China is India's largest trading partner.
"Our developmental experiences are arguably most relevant for each other. Our respective achievements in infrastructure, mobility, energy, skills development, healthcare, education and urbanisation offer a fertile ground for exchange and cooperation. Our defence and security exchanges now include annual military exercises. There is greater Chinese investment in India and vice versa," he said.
Noting that the government was fully committed to this process and building a durable framework for the ties, Mukherjee said he firmly believed that India and China must enhance their bilateral relationship if both countries were to play a significant and constructive role in the 21st century.
"This can be achieved by closer contacts at all levels. As you are aware, India chose to be a secular parliamentary democracy. Our system of participative governance is founded on the principles of tolerance, inclusiveness and consensus.
Emphasising on broadbasing contacts, Mukherjee said India is encouraged that province-to-state contacts were now growing and both sides were working to expanding exchanges between local bodies.
"Finally, trade and commerce can be the most powerful agents in reinforcing our complementaries. We are pleased that in the past decade, there has been substantial growth in our bilateral trade and investments but there is a vast untapped potential waiting to be fully realised. We invite Chinese companies to participate in the 'Make in India' initiative and to join us in 'Start Up India'. Let us jointly innovate to create a new model for business," he said.