India's exports to China will touch $10 billion in two years from $5.2 billion in 2002, as per the estimates of Confederation of Indian Industry.

However, the industry body said the export basket must be enhanced to maintain the current growth rate of 40 per cent to double the business by 2005.

India's export business with China will stand at $7.2 billion by end of 2003, in case the current growth rate is maintained, it added.

Meanwhile, to help Indian exporters identify buyers in China, the industry body will launch the India Club -- a conglomerate of 50 companies--in November this year.

CII has sought the support of the ministry of commerce and SIDBI for the funding of the India Club, which will be opened in Shanghai.

Piyush Bahl, head, CII International, said the club will promote outsourcing from China apart from marketing the India brand in the region. CII had already held a few Made In India exhibitions.

The India Club would also exhibit Indian companies and their products for all 365 days. Bahl added that the focus will be on mid-sized companies for the India Club. This apart CII has also planned out a few mega exhibitions for the Chinese market.

At present, the main export items for India into China have been iron ore, steel, fisheries, chemicals and electrical equipment. Bahl said to double exports in two years, India must look at exporting a variety of items instead of sticking to the traditional items like steel and iron ore.

"India's export business with China may, however, receive a blow in case China revives its idle steel plants in the near future. Therefore, it is necessary for us to start identifying other items which could be exported to China," Bahl added.

Dragon draw

• India's exports to China seen at $7.2 billion by end of 2003.
• CII says exports must be improved to double the business by 2005.
• CII to launch India Club, a body of 50 companies, in November.
• SIDBI funding sought for India Club, which will be opened in Shanghai.