The issue of growing trade deficit between India and China is likely to dominate trade talks between Commerce and Industry Minister Anand Sharma and his Chinese counterpart Chen Deming when both sides meet at the ninth session of India-China Joint Economic Group in Delhi on Monday.
Besides trade deficit, export of pharmaceutical products, diamonds and sea food to China are also likely to feature during discussions. The Chinese side is to bring to the fore the ways to strengthen cooperation in trade remedies and service trade.
The border trade issues between India and China, and modes to improve investment and operation environment for Chinese enterprises in India are also likely to be put to discussion, a Commerce Ministry statement said.
The total bilateral trade between India and China during 2011-12 fiscal stood at $75,457.42 million compared to $59,000.36 million year ago. During the previous fiscal, exports from India stood at $17,902.98 million while imports were at $57,554.44 million. The provisional trade deficit for 2011-12 was at $39,651.46 million.
Led by Sharma, the Indian delegation would include Commerce Secretary S R Rao, Department of Industrial Policy and Promotion Secretary Saurabh Chandra and other senior officers from various departments of the government.
On the other hand, the Chinese side would include China’s Ambassador to India Zhang Yan, and other senior members from Chinese government.
The India-China Joint Economic Group was formed in December 1988 during the visit of the then Prime Minister Rajiv Gandhi to Beijing.
The first meeting of the group was held in 1989 in New Delhi with the last being held in Beijing on January 19, 2010.