The Hindu Business Line

China prom­ises to ad­dress trade deficit is­sue

- India News · China · India · Sushma Swaraj · Wang Yi

China on Mon­day promised to ad­dress In­dia’s grow­ing con­cerns over the bal­loon­ing trade deficit and sug­gested expanding co­op­er­a­tion in ar­eas like in­dus­trial pro­duc­tion, tourism and border trade to achieve “over­all bal­ance” in bi­lat­eral com­mer­cial re­la­tions.

In­dia has re­peat­edly voiced concern over the trade im­bal­ance which last year crossed a whop­ping $57.86 bil­lion over $95.5 bil­lion to­tal bi­lat­eral trade.

Ex­ter­nal Af­fairs Min­is­ter S Jais­hankar, who is here for talks with the Chi­nese lead­er­ship , men­tioned the trade deficit is­sue dur­ing talks as well as dur­ing a bi­lat­eral event.

In­dia-China eco­nomic re­la­tion­ship too has seen “some progress, Jais­hankar said. The bi­lat­eral trade has in­creased but so too has our deficit, which is a mat­ter of some concern.

“We ap­pre­ci­ate the steps taken in the last few months by the Chi­nese side to en­hance im­ports from In­dia. Th­ese ef­forts could ex­pand to in­clude mea­sures to en­able greater ac­cess for our phar­ma­ceu­ti­cal and IT prod­ucts and ser­vices in the do­mes­tic Chi­nese mar­ket,” he said.

Chi­nese For­eign Min­is­ter Wang Yi, who was also present at the meet­ing, said China ap­pre­ci­ates In­dia’s con­cerns over the trade im­bal­ance.

Newspapers in English

Newspapers from India