Issues likely to be discussed during India-China JEG

Issues likely to be discussed during India-China JEGThe growing trade deficit is said to be among the issues that Commerce Minister Anand Sharma is expected to discuss at the ninth session of India-China Joint Economic Group (JEG).

In 2011-12, bilateral trade between India and China stood at $75,457.42 million. The figure was much bigger than the figure of $59,000.36 million for 2010-11.

The figure for exports for 2011-12 was estimated $17,902.98 million, while imports stood at $57,554.44 million. According to the provisional figures, the trade deficit of $39.65 billion was in China's favour.

Along with investment related issues and import of Indian films by China, market access for Indian agricultural products, IT and ITeS are also likely to be raised.

Speaking about the India-China JEG, an Indian official said, “Sharma is likely to raise the issue of growing trade deficit. The issues related to market access in IT and ITeS and Indian agricultural products are also likely to be raised.”

Chinese delegation will likely discuss new ways to provide a boost to cooperation in trade and service trade.

The Joint Economic Group on Relations, Trade, Science & Technology (JEG) was formed in 1988, during the then Prime Minister Rajiv Gandhi’s visit to Beijing.