India-China trade balance agreement a non-starter after 3 years

In 2016-17, India's highest export earners were iron ore, cotton and organic chemicals

While the trade deficit with China continues to balloon to over $51.09 billion, next month will mark the third anniversary of India signing an agreement for achieving bilateral trade balance by 2019.

The five-year programme for economic and trade cooperation is a joint medium-term road map for promoting trade and investments, signed between the nations in September 2014.

“While it is broad-based, it acknowledges the pitfalls of one-way trade,” an official said.

The agreement also seeks easing of restrictions by the Chinese government against export items such as bovine meat, fruit and vegetables, and basmati rice. Of these, only basmati