China is trying to address the issue by promoting mutual investments to balance the trade. “We have agreed two industrial parks and encouraging more Chinese investments in India to promote exports to China,” he said.
“We are ready to buy. This is next five years we are experted to import commodities from USD 10 trillion. We hope we could import as much as possible from India,” he said.
“We should try to combine ‘Make in India’ and ‘Made in China’ strategy together. The key word in India-China relationship is development, which is a major factor of our cooperation,” he said.
India’s trade deficit with China averaged around USD 47 billion in last year’s trade of over USD 70 billion.Huang Xilian said China has sent delegation to India to discuss measures to increase imports. China is importing films from India, he said, referring to recent success of PK which grossed over USD 16 million.
China is also stepping up imports of Indian pharmaceuticals, Huang said.