What are the basic principles of Panchsheel?

Hint: Panchsheel was an agreement, including five principles of peaceful co-existence which was signed between India and China (over the Tibet region) on April 29, 1954. It also initiated the trade and intercourse agreement between the two nations, to resolve the conflicts between the governments over different essential issues.

Complete Answer:
The relationship between India and China has been a tumultuous one. The respective relation has seen the era of friendship and close affinity but due to the issue of Tibet, the tensions escalated between the two nations. In order to decrease such tensions between the nations, the Panchsheel agreement was signed on April 29, 1954. The agreement was signed between then, the Prime Minister of India – Jawaharlal Nehru and China’s first premier – Zhou Enlai. While contextualising the agreement, both the nations entered the agreement when India had recognised Tibet as the part of Chinese territory. The term ‘Panchsheel’ itself means five principles and which are as following:
a. Peaceful co-existence: As the primary principle of the agreement, peaceful co-existence stressed upon the survival and sustenance of both the nations for peace so that the maximum and integrated development could be achieved.
b. Mutual respect for each other’s territorial integrity and sovereignty: The second principle further laid importance on the provision of recognising each other’s territory and sovereignty to limit the territorial dispute and tensions between the two nations over the region of Tibet.
c. Mutual non-interference: The third principle created the premise of India-China’s foreign policy, which demanded the recognition of each other’s internal matters and the principle of non-interference.
d. Mutual non-aggression: The fourth principle highlighted the dire need of detente between the two nations, so that the war would not take place between the two. Unfortunately this principle was violated, due to the Chinese aggression of 1962.
e. Equality and Mutual benefit: The fifth principle laid down the premises for the acceptance of equality and aimed towards the objectives which would be mutually beneficial to both the nations.

Note: While answering the question, don’t confuse the principles of Panchsheel with the principles of NAM - ‘Non-Aligned Movement’. The Non-Aligned Movement was a movement to avoid joining any of the power blocs - neither America nor Russia. It was first started by the first Indian Prime Minister Jawaharlal Nehru.