India seeks larger Chinese market in pharma, textiles, gems & jewellery
Updated: Jun 30, 2014 03:26:49pm
Sitharaman who held talks with Chinese Trade Minister Gao Hucheng raised the issue of wide trade imbalance with India running a deficit of USD 35 billion a year. The bilateral trade totalled to USD 65.47 billion last year.
She also sought larger Chinese investment in India in manufacturing as well as services sector.
Sitharaman is accompanying a high level Indian delegation to China headed by Vice-President Hamid Ansari. The Chinese proposal to set up industrial parks in India was formalized in the memoranda of understanding between the two countries.
It is seen that with such industrial parks, the Chinese engagement in India will be to develop manufacturing that may involve Indian partners. (KNN/SD)