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India, China set $100 bn trade target for 2015

China and India have set a new target of $100 billon to be achieved by 2015.

india Updated: May 12, 2006 23:08 IST

China and India have set a new target of $100 billon to be achieved by 2015 in view of the increasing bilateral trade between the two countries for the last 10 years.

This was stated by visiting Chinese business delegation head Yu Ping at an interactive meeting on "India-China Trade $100 billion by 2015" organised by the Confederation of Indian Industry (CII) in New Delhi on Friday.

Ping said he was happy that the target of $20 billion for 2008 would be achieved by year-end, two years before the target date. He hoped that the two countries would be able to achieve the new target of $100 billion by 2015.

He said that during the last 10 years, China and India had developed into powerful economic forces in Asia, but to take up the bilateral trade to a higher level, some concrete steps will have to be taken.

Ping, however, called for lifting of trade barriers, further opening up of the market and coordination between the government and entrepreneurs to further accelerate the level of trade ties.

He said there were some restrictions in trade between the countries and hoped that chambers of commerce and other similar bodies would take the initiative in sorting out these problems.

First Published: May 12, 2006 23:08 IST