Trade imbalance with China not sustainable: Ansari

India has made it clear to China that the present imbalance in the trade is not sustainable and there is a need to find a solution to the pressing issue.
"I had a long discussion...The minister (Commerce Minister Nirmala Sitharaman) had separate discussions. We said the trade has increased but the imbalance exists which is not sustainable," Vice President Hamid Ansari told reporters while returning from a five-day official visit to China.
He said that there were two ways to improve the imbalance. One is that India increases its exports to China and the other is that China increases its investment in India.

"Their response was okay. There are some issues they want to study...It is a complicated, technical subject. Talks will be held at the expert level," he said responding to a question on trade.
Replying to a question on reported difficulties for foreign companies to set up businesses in India, he said Finance Minister Arun Jaitley and others have made statements in this regard and there are proposals to simplify FDI procedure.
He said the General Budget will spell out more details. India and China today signed a MoU on industrial parks aimed at attracting Chinese investments in India and providing an enabling framework for Chinese companies to invest in Industrial parks and zones.

Under the MoU, the two countries have agreed to cooperate to increase mutual investment in each other's economies and this cooperation will be in accordance with the relevant domestic laws and regulations of each party and on the basis of equality and mutual benefit.
An Industrial Park Cooperation Working Group made up of equal number of representatives from both the countries will be set up to identify and agree upon the detailed modalities for implementing cooperation under this agreement and will periodically review the progress.