« Back to article

Print this article

India's trade imbalance with China

India and China on Monday sought to further improve their bilateral relations and firmed up eight agreements to enhance cooperation in a range of areas including trade, culture and water resources.

The agreements were signed after delegation-level talks between Prime Minister Manmohan Singh and his Chinese counterpart Li Keqiang.

To enhance trade, both the sides decided to set up three working groups under the Joint Economic Group. The three groups are Services Trade Promotion Working Group, Economic And Trade Planning Cooperation Group and Trade Statistical Analysis Group.

The pact for setting up of the working groups was signed by Commerce Minister Anand Sharma and his Chinese counterpart Gao Hucheng.

In 2012, bilateral trade between the two countries was $66 billion, a decline from over the $74 billion mark in 2011. The two countries have set a target of $100 billion by 2015 for bilateral trade.