With the bilateral relations between India and China hitting an all-time low since the war of 1962, Union Minister for External Affairs S Jaishankar Monday (31 August) emphasised that the ties between the two nations are "extremely consequential" for not just them, but for the rest of the world as well, reports Economic Times.

The minister's remarks came in the backdrop of the ongoing border disputes along the Line of Actual Control (LAC) in the Ladakh sector, Jaishankar underscored that it is vital for the two nations to reach some kind of "understanding or equilibrium".

Jaishankar elaborated, "If you have two countries, two societies with a billion people each with the history and culture that they have, it is very important that they reach some kind of understanding or equilibrium between them."

Speaking at the US-India Strategic Partnership Forum, Jaishankar asserted that while India is cognisant of China's rise, but India's rise has also been a global story.

Jaishankar added, "This is a practical world. If a country is going to get more powerful, we are going to see its influence in geographies we have not seen before, we are going to see activities and capabilities that we have not seen before. We will see that from China and I dare say, in some areas, they will see it of us."

It should be noted that Jaishankar's statment comes amid the ongoing tensions between India and China at the LAC. A fresh attempt by Chinese army to capture strategic positions at LAC near Pangong Tso in Ladakh was thwarted by the Indian Army on the intervening night of 29 and 30 August.