INDIA, CHINA TRADE MINISTERS TO MEET SOON

Beijing: Ahead of Chinese President Xi Jinping’s forthcoming visit to India, commerce ministers of both the countries are set to hold talks to finalise multi- billion dollar package of Chinese investments in India. Commerce minister Nirmala Sitaraman is due to arrive here on Monday to take part in the India, China Joint Economic Working- group ( JEG) headed jointly along with her Chinese counterpart Gao Hucheng. The two ministers would meet on September 2 to discuss a broad trade agenda which includes China’s plans to address India’s concerns of mounting trade deficit which is currently averaging around $ 35 billion per- annum. India’s trade deficit with China mounted to $ 8.84 billion in the first three months of this year out of total trade volume of $ 21.98 billion. The bilateral trade amounted to $ 65.47 billion in 2013 with trade deficit at $ 31.42 billion.