After a months-long standoff on the disputed border, China and India have agreed to pull back troops from a lake area high in the western Himalayas.

Indian Defence Minister Rajnath Singh told parliament on Thursday that the agreement had been reached after several rounds of talks between military commanders and diplomats. Singh informed that both India and China would initiate the process of withdrawing the deployment of their troops in a phased, coordinated, and verified manner, Times of India reported.

On Wednesday, China’s defence ministry said frontline troops from the two countries had begun to pull back from the shores of the lake. Singh revealed that China will move back its troops from Finger 4 and 5 to Finger 8 along the north bank. While India will move its troops to the Dhan Singh Thapa post that lies just ahead of Finger 3. Fingers are mountain folds jutting into the Pangong lake.

Singh added that within 48 hours of the completion of this phase of disengagement, military commanders will meet to discuss disengagement from other areas. "I want to assure this house that in reaching this settlement, we have not lost anything," Singh told the parliament.

The standoff between the two countries began last year when India said Chinese troops had intruded into Ladakh area in the western Himalayas. In the clash, 20 Indian soldiers were killed when the two sides fought with iron rods and stones in the Galwan Valley.