Writing in The Hindu newspaper, Li warned that there would be no Asian century if India and China failed to live in harmony and achieve common development.
"There is no denying that China and India still have between them some difficult issues left over from history," he said in the article titled "A handshake across the Himalayas".
"But the rich historical experience and the broad vision... serve as the basis for China and India to take a long-term view and live in amity with each other."
He added that "China and India, two big Asian countries living next door to each other, are destined to be together."
In his article, Li paid glowing tributes to Indian history and culture as well as economic strengths and described India as a nation "at once old and young".
He said both countries "agree that the common interests between China and India far outweigh their differences and that the two countries should enhance mutual trust rather than increasing mutual suspicion..."
"As long as we face the problems squarely and talk to each other with sincerity, we will eventually find proper solutions (to our differences)."
Li underlined the point by saying that India and China "need to live with our neighbours in harmony and make friends in the world".
The Chinese premier, who arrived here Sunday on a three-day visit, his first since taking office in March, said China had a long way to go to achieve modernisation despite its present strength.
"Even if China becomes strong one day, it will never embark on the doomed path of seeking hegemony," he said.
He said Asia's future depended on China and India.
"If China and India live in harmony and prosper together, and if our two markets converge, it will be a true blessing for Asia and the world at large."Prime Minister Manmohan Singh said Monday that India and China's relationship is essential for stability and prosperity in Asia and the world, while stressing the need "for an early resolution of the boundary dispute.
"There are many areas of convergence between us. We agreed that the relationship is of growing significance and essential for peaceful development and stability and prosperity in the region and the world," Manmohan Singh said after the two countries signed many economic agreements here on the first international visit of Chinese premier Li Keqiang.
Noting India and China had "differences in more recent times", the prime minister stressed the need "for an early resolution of the boundary dispute" and said the two countries agreed that "special representatives of the two countries will soon meet to continue the discussion for mutually acceptable boundary settlement".
"We also took stock of the recent incidence in the western sector," said the prime minister. The prime minister said he expressed India's concern on shared rivers between the two countries. "We agreed to expand cooperation in trans-border rivers," said the prime minister.
According to the prime minister, "the rise of China was good for the world and has enough space for the growth of the two countries".
"Economic cooperation is important in our relationship," said the prime minister, while stressing concern on the trade deficit between India and China.
The prime minister also invited Chinese companies to invest in the growing infrastructure sector and said there were new opportunities for economic cooperation, which will be identified through the strategic economic dialogue.
"We also agreed to share interest in an open multilateral trading system," said the prime minister.
Worrying traffic woes
Vehicular movement was disrupted in the capital due to restrictions enforced in view of Li Keqiang's visit to the capital. Traffic jams were witnessed on roads leading to Connaught Place from all directions.
Vehicular movement was restricted near India Gate as Prime Minister Manmohan Singh and Li held talks at the adjacent Hyderabad House. Li's visit to Rajghat led to traffic troubles on Vikas Marg as well as near Pragati Maidan.
Anticipating protests by Tibetans against Li's visit, police have decided to close carriageways of Sardar Patel Marg from Panchsheel Marg up to Dhaula Kuan today. No traffic will be allowed on this stretch, police said. Four Metro stations near possible protest locations will also be closed for public from 8 AM to 10 AM.
"As per advisory from Delhi Police, Race Course, Udyog Bhawan, Central Secretariat and Khan Market stations will remain closed from 8 AM to 10 AM on May 20.At Central Secretariat station, interchange will be available," a DMRC spokesperson said.
Traffic diversions will remain in place till Tuesday afternoon, police said. Due to VVIP movement tomorrow, traffic police has advised people to avoid areas including India C-Hexagon, Ring Road and Mathura Road between 08.30 AM to 10.30 AM.
C-Hexagon shall be affected from 10.00 AM to 3.00 PM.
With inputs from IANS