Anil K Jospeh Beijing, May 15 (PTI) Senior trade representatives of India and China today forecast that the bilateral trade volume will surge from the current USD 25 billion to 40 billion by 2009, a full year ahead of the target set by the two governments.
During the first quarter (Jan-Mar) of this year, bilateral trade has touched USD 8.2 billion, soaring by 58 per cent, Vice President of the China Council for the Promotion of International Trade (CCPIT), Wang Jinzhen said.
"The business communities in China and India are determined to raise bilateral trade up to USD 40 billion by the year 2010. But if we increase our bilateral trade at this speed (58 per cent), I think we can reach USD 40 billion by 2009, an year earlier than targeted," Wang said at a India-China Business Luncheon Meeting organised by ASSOCHAM, CCPIT and the Indian Embassy here.
Concurring with Wang's forecast, Member of Parliament and Managing Director of Videocon Industries Ltd., Rajkumar Dhoot said that as per an ASSOCHAM forecast, India-China bilateral trade could be more than double to USD 43 billion in the coming three years.
During Chinese President Hu Jintao's state visit to India last November, both the countries set a bilateral trade target of USD 40 billion by 2010.
Dhoot, heading an ASSOCHAM delegation to China, noted that the growth in Chinese exports to India was among the fastest for the world's third largest trading power.
However, he noted that Chinese investment in India was very low, only accounting for .30 per cent of all foreign direct investment approved by the country. PTI
During the first quarter (Jan-Mar) of this year, bilateral trade has touched USD 8.2 billion, soaring by 58 per cent, Vice President of the China Council for the Promotion of International Trade (CCPIT), Wang Jinzhen said.
"The business communities in China and India are determined to raise bilateral trade up to USD 40 billion by the year 2010. But if we increase our bilateral trade at this speed (58 per cent), I think we can reach USD 40 billion by 2009, an year earlier than targeted," Wang said at a India-China Business Luncheon Meeting organised by ASSOCHAM, CCPIT and the Indian Embassy here.
Concurring with Wang's forecast, Member of Parliament and Managing Director of Videocon Industries Ltd., Rajkumar Dhoot said that as per an ASSOCHAM forecast, India-China bilateral trade could be more than double to USD 43 billion in the coming three years.
During Chinese President Hu Jintao's state visit to India last November, both the countries set a bilateral trade target of USD 40 billion by 2010.
Dhoot, heading an ASSOCHAM delegation to China, noted that the growth in Chinese exports to India was among the fastest for the world's third largest trading power.
However, he noted that Chinese investment in India was very low, only accounting for .30 per cent of all foreign direct investment approved by the country. PTI