Ahead of the Chinese President’s visit to India, Commerce and Industry Minister Nirmala Sitharaman is likely to meet her Chinese counterpart next month and discuss issues, including widening trade deficit, greater market access for Indian products and investment.
Sitharaman may discuss various trade and investment related issues with Chinese Trade Minister Gao Hucheng in Beijing in their meeting in the first week of next month, an official told the news agency.
“China is India’s biggest trading partner but the increasing trade deficit is a major concern for India. The minister would also like to raise issue related with non-tariff barriers and access to IT and pharma sector in China,” the official said. China invests close to USD 100 billion annually in different parts of the world whereas in India they have invested only about USD 410 million in the last 14 years. Chinese business can invest in various sector, including infrastructure, industrial parks and ports to help bridge the trade deficit.