Mumbai:
Bilateral trade volume between India and China will
surge from the current $25 billion to $40 billion by 2009,
a year ahead of the target set by the two governments,
trade representatives of the two countries said.
Bilateral
trade touched $8.2 billion during the first quarter (Jan-Mar)
of the current year, soaring by 58 per cent, vice president
of the China Council for the Promotion of International
Trade (CCPIT), Wang Jinzhen said.
"The
business communities in China and India are determined
to raise bilateral trade up to $40 billion by the year
2010. But if we increase our bilateral trade at this speed
(58 per cent), I think we can reach $40 billion by 2009,
an year earlier than targeted," Wang said at a India-China
Business meeting organised by ASSOCHAM, CCPIT and the
Indian embassy in Beijing.
India
and China had set a bilateral trade target of $40 billion
by 2010 during Chinese President Hu Jintao''s state visit
to India last November.
However,
considering the present pace of growth, member of Parliament
and managing director of Videocon Industries Ltd., Rajkumar
Dhoot, said India-China bilateral trade could be more
than double to $43 billion in the coming three years.
Dhoot,
who is heading an ASSOCHAM delegation to China,noted
that the growth in Chinese exports to India was among
the fastest for the world''s third largest trading power.
However, he noted that Chinese investments in India were
too low.
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