Insta
India’s Concerns Over Increasing Trade Deficit Will Be Addressed, Promises China During EAM Jaishankar’s Visit
Swarajya Staff
Aug 13, 2019, 09:35 AM | Updated 09:35 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
External Affairs Minister (EAM) S Jaishankar on his maiden visit to China ensured that the Chinese leadership paid heed to India's concerns over the ballooning trade deficit between the two South Asian neighbours, reports Economic Times.
India has repeatedly voiced concern over the trade imbalance which last year crossed a whopping $57.86 billion over $95.5 billion total bilateral trade.
China on Monday (12 August) promised India that it will be taking up steps to address Indian concerns and also suggested that the two nations should expand the cooperation in areas such as tourism, industrial production and border trade to help achieve an overall balance.
In his meeting with Chinese Foreign Minister Wang Yi, Jaishankar also appreciated the steps taken up by the concerned authorities in China to increase the imports from India in the last few months.
Meanwhile, Jaishankar also pressed for an increased access to the Chinese markets for Indian pharmaceutical and IT products and services. Responding to Jaishankar, his Chinese counterpart Yi assured, "We are ready to continue providing facilities to Indian exports to China,"
As per the report, the bilateral trade between the two neighbouring countries this year is expected to touch 100 billion dollar, a historic figure endorsed by the leadership of the two nations.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.