Chinese delegation in India ahead of PM’s visit to China, Russia1 min read . Updated: 18 Oct 2013, 11:08 PM IST
Delegates from China's commerce ministry and China Development Bank were in India to discuss widening trade gap between the Asian giants
New Delhi: Foreign secretary Sujatha Singh on Friday said delegates from China’s commerce ministry and China Development Bank were in India to discuss the widening trade gap between the Asian giants, days before Prime Minister Manmohan Singh’s trip to China next week.
The aim of the Chinese team’s visit is to come up with a trade development plan that will help cut the yawning trade deficit, Singh told reporters in New Delhi. The Prime Minister is to visit Beijing on 22-24 October.
India has been seeking market access in China for its pharmaceutical and information technology products—areas in which India has an edge.
Both sides have set a bilateral trade target of $100 billion by 2015. In 2011, the trade deficit was $20 billion in favour of China when bilateral trade was almost $75 billion, causing alarm within Indian industry.
Indian officials showed the Chinese delegation members some sites in Gujarat, Uttar Pradesh, Andhra Pradesh, Karnataka and Tamil Nadu for setting up industrial parks, Singh said.