The contentious issue of growing trade deficit in favour of China in bilateral trade between India and China, the two Asian giants, is likely to figure prominently at a meeting between Indian Commerce & Industry Minister Anand Sharma and his Chinese counterpart Chen Deming, scheduled on Monday.
The two ministers will take part in the 9th session of India-China Joint Economic Group. The Indian side is likely to raise the issue of huge trade deficit against India, an official statement said.
The total bilateral trade between India and China stood at $ 75.45 billion during 2011-12 compared to $ 59 billion during 2010-11. India’s exports stood at $17.90 billion, while imports stood at $57.6 billion, resulting in a trade deficit of $39.6 billion.
Issues related to market access to IT, ITeS and agricultural products from India in China are also likely to be raised, along with matters related to pharmaceutical products, diamonds and export of sea food to China.
Investment related issues and import of Indian films by the Chinese side would also come up for discussion, revealed a source.
The Chinese side is likely to bring to the fore ways to strengthen cooperation in trade remedies and service trade.
Border trade issues between India and China, and modes to improve investment and operation environment for Chinese enterprises in India are also likely to be put to discussion.
