With a view to bridging the widening trade deficit with the neighboring country, India has sought greater market access for areas like agriculture products, pharmaceuticals, IT services and tourism in China, the commerce ministry said Tuesday.
“The Commerce Secretary informed that areas like agriculture products, pharmaceuticals, information technology services and tourism in which India has proven strengths and significant global presence but the minuscule presence in China, need to be encouraged in bilateral trade,” it said.
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Wadhawan asked for guidance, facilitation, support, and assistance to the relevant stakeholders for creating a suitable environment for India’s exports in these sectors to China, the ministry added.
The bilateral trade stood at USD 89.71 billion in 2017-18. The trade deficit increased to USD 63.12 billion in 2017-18 as against USD 51.11 billion in the previous fiscal.
The commerce secretary also expressed concerns regarding the large trade deficit.
During this visit, the ministry said, Wadhawan had a discussion with important sugar importers of China, including China Sugar Association.
He briefed them about India’s sugar sector and its proven available capacity in terms of both, quality as well as quantity, to meet the Chinese requirements on a sustained long-term basis.
Meanwhile, the department of commerce in a tweet said: “India, one of the largest producers of sugar in the world, can produce all 3 grades of sugar and expects to export around 2 million tonnes of raw sugar to China from this year onwards”.