Trade relations between India and China witness a tremendous growth India considers China its largest trading

partner. The expected joint Indo China trade is likely to reach US$60 billion by the end of 2009 , says, Mr. Shen Wenping, Vice Director of Jiaxing Municipal Bureau of Foreign Trade and Economic Cooperation during a very recent Seminar with the Business Delegation from Jiaxing, China, organised by Confederation of Indian Industry (CII), in New Delhi. It is pertinent to note that China and India export and Import from each other s place in a huge manner . The details are as under Priority List of Imports by India's from China Electrical Machinery Machinery Plastic Organic Chemicals and Inorganic Chemicals Iron And Steel, Iron/Steel Products Rare Earth Metals Fertilizers Impregnated Text Fabrics Manmade Filament, Fabric Silk; Silk Yarn, Fabric Vehicles Mineral Fuel, Oil Etc Aluminum

Out of total imports by India from China , 47% are of Electrical products, electronic products and machineries .Hence, there is huge potential in Indian market for other Chinese products . Priority List of Imports by China from India Machinery Plastic Ores, Slag, Ash Iron And Steel Metals Organic Chemicals Salt; Sulphur; Earth, Stone Inorganic Chemicals; Rare Earth Metals Cotton and Yarn, Fabric Copper and Articles Thereof Electrical Machinery Hides And Skins Artificial Flowers, Feathers Tanning, Dye, Paint, Putty Precious Stones Fish And Seafood Whereas, 76% to 80% of total exports by India to China consists of Ores, Slag, Cotton, Yarn, Fabric; Precious Stones, Metals, Artificial Flowers, Feathers

and hides, Copper Articles and skin The figures of trade between 2001 to 2008 speaks the rest of the story and also reflect what is the potential of trade between these two countries in coming years as both the countries are committed to increase the trade. India-China trade (2001-2008) Year 2004 Growth 2005 Growth 2006 Growth 2007 Growth 2008 Indian Imports 5925.58 77.15% 8934.64 50.5% 14588.04 63.23% 24036.44 64.7% 31500 (approx) 31% Indian Exports 7672.51 80.41% 9768.34 27.2% 10469.18 7.05% 14658.79 40.02% 20300 (approx) 39% Trade Volume 13,598.09 78.99% 18702.98 37.4% 25057.22 33.87% 38695.64 54.42% 51800 (approx) 34%

Mr. Wenping mentioned , that Jaixing city was closely associated with the CII for over the past couple of years which eventually led them to sign an MOU early this year. It was also brought to notice, that during the ongoing recession, China was involved in speeding up the development of infrastructure and education sector and Indian enterprises were invited to run language schools from China. At present , CII is having a full fledged special office at Shanghai , China to boost the trade between India and China . The delegation from Jaixing, was visiting India determined to promote Jaixing city as an attractive destination amongst the many Indian enterprises along with developing bilateral ties. The main aim was to explore potential opportunities for individually owned companies in Jiaxing, to invest in the overseas market. This enables promotion of cooperative projects within India,

with an aim to gain new sources of imports. Mr. Wenping wished that their visit would solidify India-China trade relations. His visit to India and the many proposals for developments within India served this purpose. Jiaxing city planned to set up three to five ITO/BPO parks. It was now in the process of getting in touch with the big IT companies from India like Infosys, HCL, and TATA Consultancy to offer their expertise, he affirmed. Jiaxing, which exports goods worth US$ 230 million to India. Among the 30 foreign companies operating in Jiaxing, eight companies are of Indian origin. The Indian companies are doing business worth US$ 8.69 billion. India is the 15th largest exports destination and 29th largest exporter in Jianxing, confirmed Mr. Wenping. In his welcome remark at the seminar, Mr. Ravi Bhoothalingam, Member, CII National Committee of Tourism & Chairman, Manas Advisory Pvt. Ltd. stated that the delegation s visit to India is very important especially at the time when the meltdown has affected diverse sectors within the country. In today s times, India and China are big locomotives of the economy which can pull out the world from the economic mayhem. Mr. Bhoothalingam welcomes the delegation to provide benefits to other sectors as well. These include providing complementary capabilities for business opportunities in IT, Pharma, Hardware, Bulk Drugs, Power & Energy, Environment, Tourism and many more. In recent years lot of joint councils and chambers have emerged to boost the trade between China and India and one of the prominent being India China Chamber of Commerce & Industry(ICCI) having its office in Mumbai, India. The main mission of this chamber is to promote the business China, Hong Kong and Macau with India through commerce, investment, industrial collaboration, technology transfer, joint ventures, international exhibitions, business delegations, economic cooperation, people to people friendship etc. Recently, ICCI through its Addl. Director Ms Jenny Zeliang has entered into an agreement with Karnataka Small Scale Industries Association (KASSIA) officials in Bangalore for strengthening the trade between chinese and Karnataka industries .

These have had been some of the initiative and much more is expected to come as both India and China are worlds strongest and emerging economy which were unfettered by the recent global recession as well.

China-India bilateral trade volume in 2011 expected to exceed $ 70 billion

China and India in 2011 is the Year of Exchange, is the 61 anniversary of the Sino-Indian diplomatic relations. Indian Ambassador to China Dr. S. Jaishankar on the 6th review the development process of China-India relations, said, "After 60 years of exchanges, India and in the political, economic and cultural exchanges and cooperation in various fields has achieved remarkable achievements to the world, we can clear to see that bilateral relations are increasingly mature. " "China-India relations have a good start." Dr. S. Jaishankar said that in 1950 India became the first in the new Chinese embassy set up a non-socialist countries. Over the past decade, the frequency of high-level visits and India as the most since the establishment of diplomatic relations, exchange of visits between leaders of both sides and above the Prime Minister met over ten times. In May 2010, Indian President Patil's visit to China, the two sides on further developing China-India strategic partnership reached a broad consensus; In December, Chinese Premier Wen Jiabao's visit to India, will set in 2011 India Exchange Year, the communication between the two activities to a new climax. "China and India are both countries with ancient civilizations, has a long history and splendid culture, we should take advantage of these resources to strengthen exchanges, enhance understanding." Dr. S. Jaishankar said, "to promote friendship and cultural exchange is the most vivid, the most effective way One, I have to understand China through the Chinese film of the human customs and natural scenery. " China and India to celebrate the Year of Exchange, in addition to the government level to enhance exchange of visits, the two sides will exchange visits 500 young parties, civil exchanges covering film, art, education, business and other aspects. 6, the Indian Cultural Relations Committee, the Indian Consulate General in Guangzhou was held at Yunnan University, Rabindranath Tagore's famous painting artist, and signed a cooperation memorandum with the establishment of Yunnan University, Rabindranath Tagore Chair. As relations between China and India, a prominent bright spot, the rapid development of bilateral economic and trade cooperation. "We can see by the number of significant changes in bilateral trade." Dr. S. Jaishankar said that the 2000 Sino-Indian bilateral trade amounted to only $ 2.9 billion, and 2010 to reach $ 60 billion this year will exceed $ 70 billion, China has become India largest trading partner, Canada, India, have long been replaced by China's tenth largest

trading partner. Last year, the two sides established a bilateral trade volume in 2015 reached $ 100 billion of new targets. "According to this rate, I believe the next five years, India will become China's fifth largest trading partner." "China is implementing a new round of the western development strategy for economic and trade cooperation with South Asian countries has brought great opportunities." Stressed Dr. S. Jaishankar, India-China economic and trade cooperation is a new relationship between the most central elements. Dr. S. Jaishankar said that in China and India, although the long process of interaction over waves, there are still some problems and obstacles, but that does not stop the healthy and stable Sino-Indian relations towards the direction of development. He believes that in India are major developing countries and emerging market countries, facing the same problems and challenges, have similar interests and responsibilities in the Doha Round negotiations, climate change, energy and food security and the international financial crisis and other major issues remain good coordination and cooperation to jointly safeguard the interests of developing countries. "India and China are rapidly developing, to achieve effective cooperation between the two countries to promote cultural exchanges, for which we plan to cooperate with the Chinese Ministry of Education, the school offered Chinese language courses in India;" Encyclopedia of the Sino-Indian exchanges, "the compilation is about to start work , so that more people of India know the history of Sino-Indian relations. "Dr. S. Jaishankar expressed the belief that SinoIndian relations will certainly have a better future.