120 MoUs signed to boost exports to China
Ahead of Indian PM Shri Narendra Modi’s meet with Chinese President Xi Jinping on Friday, private companies from India and China signed more than 120 MoUs for exports of various products from India. These included numerous products like sugar, chemicals, fish, plastics, pharmaceuticals and fertilizers.
The two leaders are expected to announce further confidence-building measures to strengthen diplomatic, trade and security relations.
“China is working to bring down its trade surplus with India. In the first eight months of this year, India’s trade deficit went down by 1.6% to US$ 37.9 billion,” Zhu Xiaohong, Counsellor, Embassy of China, stated.