labels: economy - general
India-China trade expected to touch $40 billion by 2009news
15 May 2007

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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India-China trade expected to touch $40 billion by 2009