India-China trade volume to touch USD 57 billion by 2010

Bangalore, Sep 22 (UNI) The bilateral trade between India and China, which stood at only USD 18 billion in 2005 would leap frog to 57 billion Dollars by 2010 when over 150 Indian companies including IT giant Infosys, Tatas and others, begin their new operations in the neighbouring nation.

Speaking at a seminar on 'Hong Kong as a gateway to China's Business', jointly organised by Federation of Karnataka Chamber of Commerce and Industries (FKCCI) and Hong Kong Trade Development Council (HKTDC) here today, FKCCI senior Vice President J Crasta said that China had emerged as the Largest Trading Partner in India.

Stating that over the years the trade relations between two neighbouring nations have improved a lot and trade volume which stood at only 2 billion USD in 1999 was increased to 18 billion USD in 2005 and was all set to reach record volume of 57 billion by 2010.

He said that China offers wide range of opportunities for bilateral trade in the areas of Infrastructure, power, education, health, IT and BT other related areas.

Ms Loretta Wan, Regional Director (South East Asia and India) HKTDC said the council helps create opportunities by promoting the global trade of goods and services using Hong Kong as a business platform.

The HKTDC would serve as a gateway to companies looking t expand their business in mainland China through Hong Kong.

Besides helping international companies do business in the mainland and Asia, it also helps Hong Kong companies to find new markets.

Hong Kong, which is playing an important role in integrating the world economy with mainland China had contributed for 47 per cent of the FDI comes through it.

UNI MV RS SKB1845