Goyal and Chinese commerce minister discuss trade ties

New Delhi, Sep 14 (PTI) Commerce and Industry Minister Piyush Goyal has met his Chinese counterpart Wang Wentao and discussed ways to boost trade and economic ties between the two countries.

"Met with Mr Wang Wentao, Minister of Commerce of the People's Republic of China, and discussed India-China trade and economic ties," Goyal has said in a tweet on September 12.

The meeting assumed significance as China is the second largest trading partner of India.

Chinese President Xi Jinping was here to attend the BRICS Summit on September 12-13.

The bilateral trade between the two countries rose 7.9 per cent in 2025-26 to USD 127.7 billion from USD 118.39 billion in 2024-25.

India's exports to China grew by 36.62 per cent to USD 19.47 billion in 2025-26 from USD 14.25 billion in 2024-25. Imports, on the other hand, rose by 16 per cent to USD 131.62 billion in the last fiscal year from USD 113.44 billion in 2024-25.

The trade deficit has widened to USD 99.19 billion in the last fiscal from USD 85 billion in 2024-25. This is an area of concern for the country.

India has received foreign direct investment worth USD 2.51 billion during April 2000 and March 2026.