India, China meet to discuss trade deficit
Officials from the Department of Commerce will be meeting a delegation from the General Administration of Customs of China (GACC) today to discuss ways to bring down India’s trade deficit with China. Commerce Secretary Mr. Anup Wadhawan will meet the Chinese Vice Minister of GACC to monitor the progress of steps taken so far and discuss the way forward.
The trade deficit reduced by nearly US$ 10 billion during 2018-19 to reach US$ 53.5 billion. This was in part due to decline in Chinese exports to India. There was a corresponding rise in Indian exports in some product lines including organic chemicals, plastic raw materials and cotton yarn.