The meeting between the leaders of two Asian powers came after their informal summit in the Chinese city of Wuhan to solidify the relationship in a broad spectrum of areas and ensuring better coordination between the border guarding forces of the two countries after the Doklam standoff.
Along with the Heads of State Council (HSC) session, which is the SCO's supreme decision-making body, the leaders will hold a number of bilateral meetings on the summit's sidelines.
"(Modi) also conveyed to President Xi Jinping our readiness to permit the Bank of China to establish a branch office in Mumbai", Gokhale said.
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Discussions in the summit will take place on diverse issues ranging from combating terrorism, separatism and extremism to promoting cooperation in connectivity, commerce, customs, law, health and agriculture, protecting the environment and mitigating disaster risk and fostering people-to-people relations.
The president also plans to hold bilateral meetings with the leaders of Uzbekistan, Tajikistan and Pakistan, and a tripartite meeting with the presidents of China and Mongolia. "Our talks will add further vigor to the India-China friendship". Chinese President Xi Jinping has been seeking a bilateral meeting with Iranian President Hassan Rouhani, hoping to capitalize on Iranian estrangement from the G7 nations after U.S. President Donald Trump withdrew from the Iran nuclear deal.
India, China ink 2 MoUs China has agreed to provide India hydrological data of the Brahmaputra River in flood season, months after Beijing stopped the practice, crucial to predict floods.
Modi and Xi were also expected to discuss economic relations between the two countries, NDTV reported.
Mr. Luo said it was the 14th meeting between our two leaders over past four years. Under a previous agreement, Beijing is supposed to share the river data, but it stopped past year after the two armies had a 73-day faceoff at Doklam in the eastern sector.
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New Delhi has also been concerned about the rising trade deficit with China, and has sought greater access to the world's second-largest economy for products such as rice, rapeseed, soybeans and sugar.
Armoured vans lined the streets of the coastal city of Qingdao as world leaders arrived Friday for the 18th annual summit.
Rouhani said that the U.S. exit from the nuclear agreement with Iran warrants an "important and serious discussion between our two countries".
This is the first time India is participating in the summit as a full-time member of the SCO. India, along with Pakistan had become a full-time member during Astana summit in June 2017.
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The Duke of Edinburgh, who celebrates his 97th birthday on Sunday, has retired from official public duties and did not attend. The Duchess of Cambridge and Camilla , Duchess of Cornwall, traveled together in a coach as they led the Whitehall procession.