Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

India, China Agree to Draw Roadmap to Address Trade Deficit: Commerce Ministry

Trade and other related issues were discussed during the meeting of China-India joint-group on economic relations, trade, science and technology in New Delhi on Monday.

PTI

Updated:March 27, 2018, 11:29 PM IST
facebookTwitterskypewhatsapp
India, China Agree to Draw Roadmap to Address Trade Deficit: Commerce Ministry
Image for representation.
Loading...

New Delhi: India and China have agreed to draw a roadmap with clear timelines to boost bilateral trade in a sustainable manner, the commerce ministry said on Tuesday.

Trade and other related issues were discussed during the meeting of China-India joint-group on economic relations, trade, science and technology in New Delhi on Monday.

The meeting was chaired by Commerce and Industry Minister Suresh Prabhu and his Chinese counterpart Zhong Shan.

"The ministers agreed to draw-up a medium and long term roadmap with action points and timelines for increasing bilateral trade between the two countries in a

balanced and sustainable manner," it said.

It added that the two countries are the largest emerging economies with 35 per cent of the world's population and about 20 per cent of the world's GDP but the relative volume of bilateral trade is less than 1 per cent of global trade.

The Chinese side reaffirmed their commitment to accelerate the provision of market access for Indian agricultural products including non-basmati rice, rape-

seed meals, pomegranate, okra, banana and other fruits and vegetables and bovine meat expeditiously.

The ministry said that the India's concern regarding trade deficit and requests for greater market access of Indian products and services was raised in the meeting.

On this, the neighbouring country expressed its commitment to address these concerns through the broad framework provided by successive joint economic group meetings.

"The two sides reaffirmed their aim to promote bilateral trade in the field of pharmaceuticals including resolution of issues of Indian pharma products exports to Chinese markets," it added.

Further, both the sides agreed to re-negotiate bilateral investment agreement to create a more stable, transparent and predictable legal environment to facilitate greater investment on both sides.

India has received USD 1.78 billion foreign direct investment from China during April 2000 and December 2017.

India's trade deficit with China stood at USD 36.73 billion during the April-October period of the current fiscal.

The deficit had marginally dipped to USD 51 billion in 2016-17 from USD 52.69 billion in the previous fiscal.

The bilateral trade between the countries increased to USD 71.42 billion in 2016-17 from USD 70.17 billion in the previous fiscal.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Sanchari Chatterjee
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 550.75 -0.11
HDFC 2,100.00 -0.84
Reliance 1,278.00 -0.80
Yes Bank 79.45 3.79
HDFC Bank 2,227.70 -0.08
Company Price Change %Gain
SBI 290.95 0.38
Indiabulls Hsg 551.10 -0.04
Yes Bank 79.45 3.79
Maruti Suzuki 5,975.15 2.74
SpiceJet 143.50 3.02
Top Gainers
Company Price Change %Gain
UPL 549.05 4.14
Yes Bank 79.45 3.79
Power Grid Corp 211.15 2.92
Maruti Suzuki 5,975.05 2.73
IndusInd Bank 1,439.10 2.73
Company Price Change %Gain
Yes Bank 79.45 3.79
Power Grid Corp 211.25 2.85
Maruti Suzuki 5,975.15 2.74
IndusInd Bank 1,438.25 2.70
Axis Bank 675.55 1.86
Top Losers
Company Price Change %Gain
TCS 2,165.10 -1.78
Vedanta 144.40 -1.47
HCL Tech 1,062.75 -1.25
BPCL 351.20 -0.92
HDFC 2,100.00 -0.84
Company Price Change %Gain
TCS 2,163.50 -1.87
Vedanta 144.30 -1.54
HCL Tech 1,061.65 -1.37
HDFC 2,098.75 -0.91
Reliance 1,277.40 -0.85

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results