English_Master February 25, 2016 No Comments
INDIA-CHINA TIES — IMPARTING GREATER DEPTH The rapid thaw in recent years of the long frosty Sino-Indian relationship has been accompanied by a strong growth of business ties, so much so that China is set to overtake the U.S. as India’s largest trading partner in the next few years. Over 100 Indian companies have set up shop on the shores of the erstwhile Middle Kingdom, while some 50 Chinese firms now have operations in India. The Confederation of Indian Industry’s office in Shanghai says it receives 4-5 inquiries every day from Indian companies interested in exploring the China market. Pick-up in trade Recently released statistics from China’s customs au­thorities reveal that Sino-Indian trade in the first seven months of 2006 had reached $13.6 billion, up 27 per cent over the same period the previous year. It is widely expected that the trade target, set during Chinese Premier Wen Jiabao’s visit to India in April 2005, of $20 billion by 2008 will be met by the end of this year itself. The latest trade target to be set was during Chinese President Hu Jintao’s visit to India in late November when both sides agreed to try and increase their trade volume to $40 billion by 2010. Indeed, since the start...
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