India, China to discuss trade related issues next week: Suresh Prabhu

Posted by Daily Shipping Times on 22-03-2018        Tweet

NEW DELHI: India and China would hold bilateral discussions here next week on ways to further boost trade ties between the countries, Commerce Minister Suresh Prabhu said.

He said a senior Chinese Minister will be here next week for the bilateral meeting.

"We are very keen that how we will reduce the trade deficit with China. We will discuss that issue bilaterally," the Commerce and Industry Minister said recently.

Trade deficit with China stood at USD 36.73 billion during April-October this fiscal. Increasing trade deficit with China can be attributed primarily to the fact that Chinese exports to India rely strongly on manufactured items to meet the demand of fast expanding sectors like telecom and power.