Anand Sharma expresses optimism for Indian exports to China

April 25th, 2011 - 8:28 pm ICT by ANI  

New Delhi, Apr 25 (ANI): Union Commerce Minister Anand Sharma today expressed optimism that recently unveiled 12th Five Year Plan for 2012-14 of China will give enormous opportunity for Indian exporters to access China’s huge consumer market.

During the meeting Jiang Jufeng, Governor of Sichuan Province of China, Sharma said that Sichuan Province of China is very important from Indian point of view and that there is great potential for cooperation between the two regions.

“India is an important partner to Sichuan Province, in terms of trade, engineering contracting, and service outsourcing cooperation, as well as an emerging investment destination and source,” he added.

The trade deficit for India for 2010 stood at USD 20.02 billion, more than 15.87 billion dollars trade deficit in year 2009 with China, which is an export driven economy.

The Province has annual trade of 1.2 billion dollars with 1.1 billion dollars in exports to India. Exported products mainly included electrical and mechanical equipment, audio and video equipment, textiles, metalware and chemicals.

Imports from India were 98.39 million dollars, including minerals, chemicals and electrical and mechanical products. In January 2011, total volume of import and export between Sichuan and India soared 41.64 per cent over the previous year, to 129 million dollars, including exports of USD 127 million, up 37.2 per cent.

Trade between India and China has witnessed exponential growth in last few years.

China has now emerged one of India’s largest trading partners with trade crossing the target of USD 60 billion during 2010 and expected to reach 100 billion dollars by 2015. (ANI)

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