Indo-China trade to touch $60 bln by 2010

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Bangalore, Jan 30 (UNI) The bilateral trade between India and China is expected to touch 60 billion dollars by 2010, People's Republic of China Ambassador Zhang Yan said here today.

In his address, read out in his absence, Embassy of the People's Republic of China (Economic and Commercial) Counsellor Peng Gang, at a function organised by Bangalore Chamber of Industry and Commerce here, he said the bilateral trade had generated 38 billion dollars in 2007 and it was expected to double during next three years.

He said the recent visit of Prime Minister Manmohan Singh to China had further strengthened the relationship between the two countries.

Union Minister of State for Planning M V Rajasekharan in his address said with China leading in hardware sector and India in software, could become world leader in IT trade, if they would join hands.

The cooperation between the two countries would also help in promoting peace and harmony not only in Asia but also in the world, he added.

BCIC President John M Panikar in his welcome address said with China poised to become India's largest trade partner in the next two-three years, BCIC was looking forward to make the relationship more fruitful and cordial.

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