India-China trade set to cross $100 bn this year: Senior Indian diplomat

India has further liberalised e-visa rules for Chinese businessmen as the bilateral trade is set to cross $ 100 billion this year, a senior Indian diplomat said on Friday.

 

The India-China bilateral trade last year touched a historic high of $ 95.54 billion, according to the official data released by China early this year.

 

The trade deficit in 2018, according to the data, climbed to $ 57.86 billion from $ 51.72 billion in 2017.

 

We are glad that our bilateral trade will cross the significant mark of $ 100 billion this year,India's deputy ambassador in China Dr Acquino Vimal said while addressing an event on 'India-China business forum, exploring opportunities, enhancing cooperation' specially in the IT sector.

 

A large number— of Chinese investors and Indian IT firms based in China attended the get-together organised by NASSCOM — a trade association of Indian Information Technology (IT) and Business Process Outsourcing (BPO) industry — and the Indian embassy.

 

Closer development partnership between India and China has been growing steadily for the last several years. Since the last 20 years, the scale and profile of bilateral trade and investment between India and China has increased several folds.