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Sino-Indian trade to top US$20b this year
(Xinhua)
Updated: 2006-04-17 17:19 The bilateral trade between
China and its neighbor India is expected to exceed 20 billion U.S. dollars this
year, and the figure may reach 100 billion dollars in six years, trade officials
said Monday.
Addressing Sino-Indian Business Forum in Beijing, Wan Jifei,
chairman of the China Council for the Promotion of International Trade (CCPIT),
said the Sino-Indian trade totaled 18.7 billion U.S. dollars last year, up 37.5
percent.
India has become China's biggest trade partner in South Asia,
while China is the second biggest trade partner of India.
Saroj Kumar
Poddar, chairman of the Federation of Indian Chambers of Commerce and Industry,
remains bullish about the prospects of the bilateral trade.
He told the
forum that bilateral trade could reach 100 billion U.S.dollars six years from
now and Indian investment in China may exceed 1 billion dollars within the
coming five years.
By the end of last year, however, the actual
investment from India in China was 122 million dollars, according to the
Ministry of Commerce.
Senior leaders of about 20 influential Indian
companies took part in the forum, which was organized by the premiers of the two
countries as part of the Year of Friendship between the two
countries.
The Indian companies include India Cements Ltd., South Asia
Petroleum Ltd., Moser Baer India Ltd. and Nucleus Software Exports Ltd..
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