March 27, 2018 11:31 AM

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China promises to address trade deficit with India; welcomes Indian investment

<p class="MsoNormal" style="margin: 0in 0in 10pt; color: #222222; line-height: 16.8667px; font-size: 11pt; font-family: calibri, sans-serif;"><span style="font-size: 11pt;">China has promised to address India's concern on the growing bilateral trade deficit. The development came after Commerce and Industry Minister Suresh Prabhu and his Chinese counterpart Zhong Shan co-chaired the 11th meeting of India-China Joint Group on Economic Relations, Trade, Science and Technology in New Delhi on Monday.</span></p>''<p class="MsoNormal" style="margin: 0in 0in 10pt; color: #222222; line-height: 16.8667px; font-size: 11pt; font-family: calibri, sans-serif;"><span style="font-size: 11pt;">In 2016-17, India's trade deficit with China was over 51 billion dollar, which was almost half of the country's total trade deficit with all trade partners.</span></p>''<p class="MsoNormal" style="margin: 0in 0in 10pt; color: #222222; line-height: 16.8667px; font-size: 11pt; font-family: calibri, sans-serif;"><span style="font-size: 11pt;">Speaking on the occasion, Mr Prabhu exhorted the Chinese Minister for greater market access to Indian agricultural products including vegetables and sugar and&nbsp;</span>high quality<span style="font-size: 11pt;">pharmaceutical products.</span></p>''<p class="MsoNormal" style="margin: 0in 0in 10pt; color: #222222; line-height: 16.8667px; font-size: 11pt; font-family: calibri, sans-serif;">Mr Prabhu emphasized the need to focus on export of India's IT and IT Enabled Services to China and cooperation in the sectors of tourism and health-care.</p>''<p class="MsoNormal" style="margin: 0in 0in 10pt; color: #222222; line-height: 16.8667px; font-size: 11pt; font-family: calibri, sans-serif;">Mr Zhong Shan welcomed Indian investment in his country. He highlighted the important issues discussed in the meeting like two-way trade relations, preparation of an action plan, greater focus on Regional Comprehensive Economic Partnership and e-dialogue.</p>''<p class="MsoNormal" style="margin: 0in 0in 10pt; color: #222222; line-height: 16.8667px; font-size: 11pt; font-family: calibri, sans-serif;">Mr Shan said, candid and effective discussions with India on trade relations can serve as the propeller for the growth not only between the two countries but in the entire region.</p>''<div class="yj6qo" style="color: #222222; font-family: arial, sans-serif; font-size: 12.8px;"></div>

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