Indian-Chinese Trade to Grow by 2015 .

New Delhi, Nov 8 (Prensa Latina) Indian-Chinese trade might reach 100 billion dollars in the next four years, with the perspective to become the biggest in the world in a medium term.

The trade of goods and services between China and India -the Earthâ�Ös most populated nations with 37 percent of the world population altogether- total now more than 63 billion dollars.

According to a communiqué from the Association of Chambers of Commerce and Industry of India (Assocham) published in Mumbai on Tuesday, China and India will be the worldâ�Ös major trading partners by 2030.

China has already displaced the U.S., Great Britain and Japan, and has become India's major trading partner.

Indian companies may substantially benefit from importing Chinese products at good prices.

The Indian exports to China increased 68.8 percent, to 19.6 billion dollars, compared to 11.6 billion in 2010.

At the same time, imports went up from 30.8 billion to 43.5 billion dollars, accounting for an increase of 41 percent.

India has become China's tenth major trading partner and seventh largest exporter since Beijing granted New Delhi the condition of Most Favored Nation in 1984.

Assocham General Secretary D. S. Rawat assured that Indian-Chinese commercial relations are among the most important in the world, but the association considered that it is imperative to even the balance of trade between the two nations, since it is tilted to China.

Assocham also estimated that the Chinese governmentâ�Ös decision to increase tax and non-tax barriers to some Chinese imports and to limit the trade in areas such as energy and telecommunications is sending negative signals to Indian partners and is affecting the good environment for investment.

India's exports to China consist of metals, minerals, iron, steel and cotton, while imports include machinery, electrical appliances, boilers, nuclear reactors, chemicals and fertilizers.

Source : plenglish.com