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China Agrees To Import More From India, To Address Trade Deficit Concerns
Chinese President Xi Jinping and Indian PM Narendra Modi (Photo: MIKE HUTCHINGS/AFP/Getty Images)
Commerce and Industry minister Suresh Prabhu has announced that China has agreed to increase its imports from the country.
Prabhu, at an event organised by the Confederation of Indian Industries (CII), said, “Global disruptions offer a chance to increase Indian exports, ” reports Times Of India.
India's trade deficit with China is its widest with any country, with large amounts of electronics and other items coming into India from the northern neighbour.
Prabhu said Chinese authorities will hold a meeting in November, specifically with Indian exporters, to address their concerns relating to market access and trade regulations.
As a way of reciprocating for the cooperation, the government said on Thursday that it is set to boost exports of rice and rapeseed to China to try to narrow this gap.
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