Press Information Bureau

Government of India

Ministry of Commerce & Industry

25-August-2012 16:45 IST

The Union Minister of Commerce, Industry and Textiles Shri Anand Sharma, will meet Chinese Commerce Minister Mr. Chen Deming here on Monday for the 9th session of India-China Joint Economic Group (JEG).

The Indian side led by Minister Shri Sharma is likely to raise the issue of growing trade deficit. The issues related to market access in IT and ITES and Indian agricultural products are also likely to be raised. Export of pharmaceutical products, diamonds and export of sea food to China are also likely to be discussed. Investment related issues and import of Indian films by Chinese side are also likely to come up for discussion. The Chinese side is likely to bring to the fore the ways to strengthen cooperation in trade remedies and service trade. The border trade issues between India and China, and modes to improve investment and operation environment for Chinese enterprises in India are also likely to be put to discussion.

The Indian side led by Shri Sharma would include Commerce Secretary Shri S R Rao, Shri Saurabh Chandra, Secretary, Department of Industrial Policy and Promotion and senior officers from various departments of the government. On the other hand, the Chinese side led by Mr. Deming would include Chinese Ambassador to India, Mr. Zhang Yan, and other senior members from Chinese government.

It was in December 1988 during the visit of the then Prime Minister of India Shri Rajiv Gandhi to Beijing, that a Joint Group on Economic Relations, Trade, Science & Technology (JEG) with the Commerce Ministers as the Chairman on the Indian side and the Minister for Foreign Economic Relations and Trade as the Chairman on the Chinese side was formed. The first meeting of the JEG was held in New Delhi from September 18-20, 1989. The eighth session of India-China JEG was held in Beijing on January 19, 2010.

The total bilateral trade between India and China for the financial year 2011-12, stood at USD 75457.42 million as compared to USD 59000.36 million during 2010-11. During FY 2011-12, the exports stood at USD 17902.98 million while the imports stood at USD 57554.44 million. The provisional trade deficit for 2011-12 stood at USD 39,651.46 million.

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Trade imbalance prompts bilateral talks to address market access, investment facilitation and cooperation on trade remedies. The session centers on addressing the trade deficit by pursuing market access for IT/ITES, agricultural products, pharmaceuticals, diamonds and seafood, promoting export of Indian films, strengthening cooperation on trade remedies and service trade, and improving investment facilitation and the operating environment for enterprises, within the Joint Economic Group framework and in light of recent bilateral trade volumes.