The five BRICS countries also pledged their opposition to protectionism, a theme pushed by Chinese President Xi Jinping given rising antiglobalization sentiment in the West that threatens China's access to export markets.
"India is changing fast into one of the most open economies in the world today", Modi said while addressing the BRICS - Brazil, Russia, India, China, South Africa - Business Council meet here as part of the 9th BRICS Summit.
Earlier on Monday, China had also mentioned the meeting between the two leaders but didn't mention if the Doklam standoff will be discussed.
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China is willing to work with India on the basis of the Five Principles of Peaceful Coexistence (Panchsheel), which were put forward by both the countries, to improve political mutual trust, promote mutually beneficial cooperation, and push Sino-India ties along the right track, Xi was quoted as saying.
They also need to forge chains of interconnected development and seek strength in unity, the Chinese president continued. The border row seriously affected Sino-Indian relations until the two countries settled the issue by recalling their troops from Doklam last month.
India and China were caught in a bitter 72-day-long border standoff at Doklam. Jaishankar added that there needs to be more contact among the border personnel of both nations. There would be regular exchanges and meetings between their foreign ministers and United Nations representatives, he said. In the last two years, China has stonewalled efforts by India and later by the U.S., the United Kingdom and France to declare Azhar as a terrorist, stating that there is no consensus on the issue.
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Xi made the remarks when meeting the press at the end of the ninth BRICS summit in the southeastern city of Xiamen.
In Xi's closing statement to the media, the Chinese president said the BRICS countries had agreed to strengthen cooperation and work toward a fairer economic global order that gave developing countries and emerging economies a bigger voice. "Cooperation is important for peace and development", he said.
Lashkar-e Taiba is a militant group based in Pakistan that India has blamed for cross-border attacks, including a 2008 assault on Mumbai in which 166 people were killed.
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"We deplore all terrorist attacks worldwide, including attacks in BRICS countries, and condemn terrorism in all its forms and manifestations wherever committed and by whomsoever and stress that there can be no justification".