原文标题：India-China bilateral trade set to hit $100 billion by 2015
RIO DE JANEIRO: In their 13th meeting in eight years, Prime Ministers Manmohan Singh and Wen Jiabao on Wednesday decided to take the India-China relationship to the next level by giving a boost to trade and priority to resolving the border dispute between the two countries. Going into a huddle on the first day of the Rio+20 conference here, the Indian Prime Minister, who calls Wen his 'close friend', and his Chinese counterpart agreed to take steps to ensure that the bilateral trade between the two emerging economies reaches $100 billion (about Rs 5,60,000 cr) by 2015. The two-way trade between the two countries reached $74 billion in 2011, with China becoming one of the largest trade partners of India and vice versa.
With the delegates and officials of almost all 190 countries present here keeping an eye on the India-China bilateral, the prime ministers of two emerging economies of Asia emerged from their 40-minute meeting after agreeing to boost trade and also give top priority to defence and security dialogue between the two countries.
Speaking to media after the crucial meeting, India foreign secretary Ranjan Mathai said during the meeting, the Indian prime minister invited Chinese investment in infrastructure in India. "The two leaders also decided to start the export of Indian rice to China soon," the foreign secretary said, adding that the issue of trans-border rivers flowing in India and China also figured in the talks which took place on the sidelines of the UN summit on sustainable development.
Though it was not immediately clear in which sectors of infrastructure the Chinese would be allowed to invest, Indian diplomats said it was a major turning point in India-China relationship.
With almost all G-7 leaders, except French President Francois Hollande, skipping the meet, Manmohan Singh and Wen have been hogging all the limelight, especially because the draft of the declaration to be adopted at the end of the summit on Friday has a major imprint of G-77+China group. "The view of developing nations that eradication of poverty should be the top priority has prevailed over the adoption of green economy objectives. This couldn't have happened without close coordination between India and China and summit host Brazil," says an Indian delegate who has been part of nerve-wracking negotiations.
The closing of ranks by India and China at an important global meet can have long-term ramifications for the balance of power in Asia as well as the world at large. In the meeting, Wen said the two sides need to further consolidate their political and strategic mutual trust and ensure that their ties will move forward on the right track. "Under the current complex global and regional circumstances, China and India face mutual challenges and opportunities," Wen said.
On the question of boundary dispute between the two countries, the two leaders said the Special Representatives of India and China have been asked to prepare details of the joint work done so far. China also agreed to look into the issue balance of trade which is heavily in its favour. "The Prime Minister raised the issue of Indian trade deficit and the Chinese agreed to work with India in addressing the fact that India has a large trade deficit. They mentioned in fact specifically that they are arranging trade missions to India to improve access of Indian exports into the Chinese market. They are organizing commodity fairs. And they noted for example one of the changes which has happened recently is that rice exports from India to China will now be commencing,"Mathai told the representatives of Indian media organisations covering the Rio+20 summit.
Now, Indian exporters can soon begin sending basmati rice to China after both countries agree on a mutually satisfactory quarantine protocol. China has already cleared Indian exports of basmati rice following six-year process during which many hurdles that bar the entry of Indian rice into the Chinese market were overcome.
Negotiations on the issue of rice exports were on since 2006, when President Hu Jintao visited India. Finally, it was given a concrete shape during Hu's visit to New Delhi for the BRICS summit in March.
ajosh gopi (Chennai)
Hmmm.. So by 2015 India would get almost 100% of it commodities with the tag "Made in China"
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R Patel (UK) replies to ajosh gopi
I live in the UK - & starting 2012 I have stopped buying anything made in China (unless absolutely necessary). JOIN ME & spread the word.
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Problem is the trade deficit with China. China should open it's markets to allow India to export more. Otherwise it is China all the way!
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My heart beats for China ,i want chinese nationality.
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Peace (world) replies to Khurram
Is mecca shifted to china ?
Dave (US) replies to Khurram
Having a tail is manadatory to apply for Chinese citizenship. If you don't have one already, start growing it first.
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homer (uk) replies to Khurram
Move over to Pakistan and then your dream might come true!!!
ITS NICE TO SEE TRADE TOUCHING THE 100 BILLION MARK BUT INDIA SHOULD BE CAUTIOUS WITH CHINA...........
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DMC_9 (INDYEAAHH) replies to Vijay
Well its bilateral just for name sake...India imports more from China then they do from us...fact: China actually has taxed Indian goods at their fancy to protect their farmers...!
more than 75% of the money will go to China.. India will suffer due to lack of industrialization
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Jamal Pighumber (Peshawar, Pakistan)
China and India better realize Islamic Republic of Pakistan is a nucleir power and we will not hesitate to nuke and obliterate China and Indi from the face of earth if you continue to trade $ 100 billion a year with each other. Dear Indian Muslim brothers be warned, if Chin and India do $ 100 billion a year trade, China will lose interest in Islamic Republic of Pakistan because the chienks only go after money and in that case Pakistan experiments with international Jihad to spread Priopeht Muhamed's message of love and conversion through beheadiong on non muslim infidels will fail. Pakistan needs your help in voting for any party that agrees to eliminate trade between India and China. Islamic Republics of Khalistan and Pakistan Zindabad.
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$100 billion dollar trade alright. India will import $90 billion and India will export $10 billion. Even within that, 90% export will be coal and iron ore which will come back as steel at double the price. Good work, Manmohan!!!!! I've now having my doubts whether you are working for India.
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Sapan Kapoor (New Delhi)
With Agni-V and nukes in our pocket, we are strong unlike 1962 and there's no need for us to fear another war with China now. We must improve our ties with China and become very good friends with them. Both India and China must remember we share civilizational links with each other which go back as far as 3000 BC. India should also strengthen its relationship with Iran with which also it shares civilisational links. Indians and Iranians were brothers (Aryans) who drifted in different directions long way back in the past and now they need to come back together. Improve ties with America also but not at the cost of China and Iran.
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What abt trade balance???? China bankrupted USA, and now the dragon's fiery eyes are on India.
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Anil Gupta (Vadodara) replies to Naatrajan
The reason they bankrupted USA is the high Wages there i.e. Minimum wage of RS320 per hour (yes per hour) even for the lowest workers.India has no excuse - as the Indian wages are LOWER than China's.
Bi? China will do USD 99billion, India under MMS and UPA will push USD 1 billion, you call it bi? Call it unilateral trade figures. Only bubble-top water does not come from China, all the rest, our power plants, cell phones, Telephone exchange equipment, Metro train construction, all electronics, consumer durables, toys, furnitures all are from China! Stupid Indian Govt
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Bhagwa chashma (Bharat) replies to businessatease
China is yet to open its markets to our electronics and pharma sectors..
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$99 Billion China selling to India. India the loser $1 Billion Indian India selling to China. India loser. To TOI, We understand the facts even if you have tried your best to HIDE it.
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Dont tell me how much business will grow betn two nation...Tell me how much trade imbalance will grow by 2015 Mr.Singh......
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What is the trade share of India is more important than the total amount. Else, cheap Chinese will flood the entire country.
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Aakash Tripathi (CHD)
I hope its not just import of $100Billion, it is both ways 50-50 each.... import and export
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Former Chinese premier was Hu (Who) now it is Wen (When) next it might be How :-)
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RAJESH AGRAWAL (LUCKNOW)
World's future lies in Asia ! Asia will be the growth driver to world trade !
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Amin Bhai Patel (Vadodara)
We will have replica of American malls in India flooded with chinese goods.
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As long as Congress are ruling the country, we will never get respect. Based on past performance, I'm guessing most of that $100bn is us buying Chinese goods, boosting the Chinese economy, creating Chinese jobs and increasing Chinese wealth, while Indians buy those goods and then go back to their slums and dirty cities. End Congress in 2014. Vote BJP, they aren't perfect, but at least they're Indian. At the very least, Congress needs to be taught a lesson they will never forget.
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yes definitely poverty will be eradicated ........... in china
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Bilateral trade is growing.However it is china which is benefited more than India.
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Manu Mohan (kochi)
To become a superpower, it is necessary for India to keep a friendly relation with its neighbors.. the relation with Pakistan & china is very crucial for India. about 60% of our military establishment are aiming the Chinese, so by improving the relation with china we can considerably reduce our military expenditure and that money can be used for some other useful purpose..
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karan sharma (Bangalore)
this means that now Indian Flag will also made in china..lol
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Indian (delhi) replies to karan sharma
It is already happening, our ,maps, our festival items, gods, and our all plastic and chemical are now coming from china.... One TV Channel exposed how a milk powder from China that is contaminated is used to prepare milk in delhi neighborhood... These chinese are feeding us poison and they are appreciated by our p,m
In this case, I understand the meaning of "Bilateral Trade" means Chine to dump their mass produced goods into Indian market and India to pay them "$100 Billion (less the Congress cut) by 2015. Then China will buy US treasury bonds, Oil, and Mines using that 100 billions!!!!!!
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Export rice, is that all?
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Far Side (Delhi)
One thing probably India could do is open more tourist visas for China, Japan and other Eastern Asian countries. In fact India should make China as a tourism partner to share their cultural prosperity. India can open more for Chinese (Eastern and Southern Chinese) restaurants and hotels. Free conversion of currency and less bureaucratic hurdles for visitors. Protect them from thugs and thieves. Keep more Chinese (Mandarin and Cantonese) speaking staff at airports and other tourism places in Delhi, Agra, Kerala, Buddhist Place Bodh Gaya, Bangalore and Bombay. We need to respect to our neighbors in India in order to gain their trust and love.
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Proud Indian (Chennai)
Indian economy will be controlled by China in 2015. Millions of Indians will be exported as cheap labor for cleaning China and our netas will make some foreign exchange. Slave nation, slave mentality:)
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The cheap products from china is killing our industries and our great pm is happy to see the downturn of our own industry, we must not accept cheap chinese product which are low in quality and all the money earned through india they may utilize against India one day....
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