India raises alarm over increasing trade gap with China

Posted By: Religare
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India raises alarm over increasing trade gap with China
Raising concerns over the increasing trade gap between India and China, Indian Prime Minister Manmohan Singh suggested the correction of the gap in order to have a "more conducive" business environment. China had a trade surplus of USD 20 billion with India in 2010.

During the meeting help between the two countries at Bali on the sidelines of the ASEAN and East Asia Summits, Singh mentioned the balanced trade to create more conducive environment pertaining to considerably untapped potential. The ministers also discussed the issue of "robust" economic ties, as they recognised that it was the "core" of the relationship.

Meanwhile, In terms of trade, both the countries are exploiting each other's fast-growing markets while addressing issues like tariffs and non-tariff barriers. Currently, the bilateral trade between the two countries has crossed USD 60 billion mark in 2010 and currently aims at crossing USD 70 billion this year.

Additionally, Indian Prime Minister welcomed greater Chinese economic engagement with India and mentioned that China was among the partners in executing a large number of projects in India.

Dion Global Solutions Ltd

Read more about: china, trade, manmohan singh, economic
Story first published: Saturday, November 19, 2011, 9:30 [IST]
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