Just as the world economy was largely about western nations in the 20th century, it could be largely about Asia in the 21st century. By the mid-21st century, Asia may well account for more than 50 per cent of trade, income, savings, investment and financial transactions of the world, he said.

Highlighting some key focus areas for the future of Sino-Indian relations, the prime minister said first the 'knowledge gap' between India and China needed to be bridged and there was need to make much more sustained effort to ensure proper awareness of each other.

"This not only applies to our culture and history but also to contemporary developments. We need to have more people-to-people contacts to remove misconceptions and prejudices. We need a broad-based comprehensive dialogue at the level of intelligentsia, media, non-governmental professionals and the worlds of culture and the arts."

Image: Manmohan Singh delivers his speech near a sign which reads "Indian and China in the 21st century" at the Academy of Social Sciences in Beijing.

Photographs:NG Han Guan/AFP/Getty Images