Those who view India and China as strategic rivals ignore both how the two countries have handled their differences lately and their deepening cooperation, according to Mr. Krishna.
He said: "We need to continue to manage the elements of competition within an agreed strategic framework which permits both of us to pursue our core interests." He added: "There is also a need to increase contacts and exchanges."
Mr. Krishna believes that the best way to deepen mutual understanding and prevent distrust is to increase people-to-people exchanges and communication.
To this end, Mr. Krishna, along with Chinese Foreign Minister Yang Jiechi, declared 2012 as "The Year of India-China Friendship and Cooperation". Mr. Krishna stated that in order to reach out to the Chinese people, the Indian Embassy will organize a host of activities across China throughout the year in celebration of this special period.
Commenting on the 10-day visit to China last year by 500 Indian youths, Mr. Krishna voiced his excitement about the upcoming return visit. "We are eagerly awaiting the reciprocal visit of a 500-strong Chinese Youth Delegation to India this month," he said.
To further bolster communications, the Indian Embassy opened a Weibo account a few weeks ago. "I am happy to state that within a short span of time, we already have over 5,500 followers, said Mr. Krishna."
"To enhance understanding, we also have some films on India on the Youkou network which have been viewed by thousands of netizens."
He also urged media in both countries to accurately portray India-China relations.
When asked to comment on the South China Sea issue, Mr. Krishna said, "India is not a party to this dispute."
He added: "India is of the view that sovereignty issues must be resolved peacefully by the countries which are parties to the dispute in accordance with international law and practice."
Touching on matters sensitive to India politics, Mr. Krishna asserted that India was not opposed to Pakistan's relations with other countries. "Pakistan is one of our important neighbors," he said. "A stable Pakistan, a prosperous Pakistan, is in India's interest."
Mr. Krishna also hailed India's cooperation with China at the Durban climate change conference, the Doha Round of negotiations and on major political issues at the United Nations.
"I believe 2012 is another crucial year in global polity and I am sure that our co-ordination on issues will be as fruitful and successful," he said.
Mr. Krishna stated that the next BRICS Summit, which is to be held in Delhi on March 29, 2012, would aim at "further consolidating intra–BRICS cooperation without spreading it too thin in a larger number of areas."
He expressed the hope that the Delhi Summit would send a clear message to the world about where BRICS stands on a range of issues. He was also hopeful that the summit would offer proof of the capacity and spirit of cooperation that BRICS brings to the negotiating table in dealing with the current global challenges.