Itake this opportunity to commend the China Council for Promotion of International Trade for its timely initiative of bringing out a special issue of “China’s Foreign Trade” dedicated to the forthcoming 9th BRICS Summit in Xiamen. We have extended support to China in its Presidency of the BRICS, and look forward to working together for a productive and successful Summit. I am confident that BRICS cooperation would further deepen under China’s Presidency, building on the high momentum generated by the 2016 BRICS Summit in Goa, India.
China is India’s largest trading partner. The broadening of ties in economic relationship between India and China has been one of the highlights of our bilateral relations over the past decade. We see the development of India and China as an unprecedented opportunity for the people of our two countries and for the whole world. In our engagement with China, we have sought to tap the vast area of commercial and business opportunities in the relationship. At the same time, a more balanced and sustainable trade relationship is in the interest of both our countries and we look forward to working together towards that goal.
India welcomes greater Chinese investment in our infrastructure and manufacturing sectors. Several measures have been taken to facilitate a better environment for Chinese businesses, including simplification of the visa regime including the provision of electronic visas for business applicants. The upcoming implementation of the Goods and Services Tax will be a major reform in facilitating ease of doing business, including for Chinese enterprises in India. India also looks forward to getting greater market access in industries where we have comparative advantage, such as information technology and pharmaceuticals.
Finally, let me take this opportunity to extend my best wishes to the readers of this special issue of “China’s Foreign Trade”.