Ansari concerned over India-China trade imbalance

Looking forward to a "substantive" visit to China, Vice President Hamid Ansari today expressed concern at the trade imbalance between the two countries and said the two governments were seized of the matter.
"It is a matter of concern to us that while trade is increasing, the imbalance in trade is not coming down. The two governments are seized of the matter...," he told reporters on way to Xian. But at the same time, Ansari pointed out that the bilateral trade between India and China was "almost at top".
The bilateral trade declined from around USD 75 billion in 2011 to USD 65.45 billion last year amid continuing decline of Indian exports. The trade deficit, according to officials, averaged to USD 35 billion during the last few years.

The two countries had set the target of USD 100 billion by next year, which officials say is an uphill task.
Ansari said the two governments are working on furthering trade ties and Commerce Minister Nirmala Sitharaman's meeting with her counterpart in Beijing this week will allow the subject to be discussed.
Sitharaman is accompanying Ansari who is travelling to China to attend events to mark the 60th anniversary of 'Panchsheel' at Beijing on June 28 and 29.

Asked whether the issue of repeated incursions by Chinese troops will be discussed during his bilateral talks with his Chinese counterpart Li Yuanchao, he said all matters on the bilateral agenda will be taken up. When asked further on the same issue, Ansari said he "cannot anticipate talks".

To a question on whether the principles of 'Panchsheel' are still relevant, the vice president said the idea of Panchsheel was based on universal values.
"The principles are impeccable...The entire Non Aligned Movement (NAM) and bulk of United Nations members subscribe to it," he said adding that inter-state relations follow these principles.