New Delhi: India on October 6 exuded confidence of achieving the $100-billion bilateral trade target set with China by 2015 and hoped the issue of New Delhi’s widening trade deficit with Beijing would be addressed.
Joint Secretary in the Ministry of Com-merce and Industry Asit Tripathy was speaking at the inauguration of the “India Show” in Beijing, where more than 80 Indian automobile companies are participating.
In 2011-12, the bilateral trade between the two countries stood at $ 75.45 billion. While India’s exports were at $ 17.90 billion, imports stood at $ 57.55 billion. Thus, the trade deficit between the two nations stood at $ 39.65 billion in favor of China.
Indian Ambassador to China, S. Jaishankar, said the economic cooperation between India and China in the last decade has been a remarkable story.