China, India to strengthen economic ties

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Trade deficit with China is one of the major concerns of Indian businesses.

As two of the largest developing countries, China and India share many business challenges and opportunities. Although competing for global economic resources, they also seek win-win prospects for cooperation.

Ramesh Adige, Executive director of Corporate Affairs, Ranbaxy,said, "China grows 10 percent, India grows nearly 10 percent, there are many opportunities. But we have to make sure that the opportunities are fair."

But many believe that the gap can be bridged if both sides make the effort to diversify economic cooperations with China.

Hari Sankaran, managing director of IL & LTD., said, "There is trade imbalance, but there is huge potential for trade between the two countries, for example in services and manufacturing and also infrastructure."

Officials from China's Minsitry of Commerce said China will work on enlarging Indian imports and encouraging Chinese investments to India this year. China is now the second largest trade partner of India and is expected to soon become the largest.

As two of the largest developing countries, China and India share many business challenges and opportunities. Although competing for global economic resources, they also seek win-win prospects for cooperation. Experts say close economic ties will make the relationship between the two partners even more mutually-beneficial.

Editor:Zhang Ning