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India seeks more balanced trade amid momentum in China ties, says commerce secretary Rajesh Agrawal
India and China have also emphasised the need to address each other’s concerns, including “structural trade imbalance and supply chain issues."
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The momentum in India-China ties is a welcome development, though New Delhi wants a more balanced and sustainable trade relationship with predictable access to Chinese markets, commerce secretary Rajesh Agrawal said on Wednesday.
The leadership of the two countries have also emphasised the need to address each other’s concerns, including “structural trade imbalance and supply chain issues”, Agrawal said while addressing an event organised by the Chinese embassy to mark the country’s national day.
Agrawal’s presence at the event, which was also addressed by Chinese ambassador Xu Feihong, was seen in some quarters as a signal from New Delhi on the importance of addressing key trade-related issues. Foreign secretary Vikram Misri attended a reception organised by Saudi Arabia to mark its national day the same evening.
Chinese President Xi Jinping travelled to India after seven years to attend the Brics Summit during September 12-13 and also held a bilateral meeting with Prime Minister Narendra Modi to review bilateral ties, which the two sides have attempted to rebuild after reaching an understanding in October 2024 to end a military standoff in Ladakh that lasted more than four years and took relations to a six-decade low.
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Agrawal pointed to Modi and Xi welcoming the steady progress in bilateral relations at their recent meeting and emphasising that differences should not become disputes. “The recent momentum in India-China relations is a very welcome development,” he said.
“We look forward to a more balanced and sustainable trade relationship with greater market access for Indian goods and services,” Agrawal said, pointing to the call by Modi and Xi to address each other’s concerns, including “structural trade imbalance and supply chain issues and to facilitate meaningful and predictable market access”.
Highlighting India’s strengths in agriculture, marine products, pharmaceuticals, textiles, engineering goods and services, Agrawal noted the scope to enhance cooperation in areas of mutual benefit.
“Facilitation of business travel and visas is important for enabling closer interaction between our business communities,” he said, calling for engagement on trade-related issues through relevant mechanisms.
