Bilateral trade between the two regional powers of South Asia: China and India, has increased to $20 billion this year. In a trade cooperation conference, Chinese Ambassador, Sun Yuxi said that according to the five year plan designed by the two countries, the $20 billion target was set to be achieved by 2008 but it had been achieved by this year. With this pace, the bilateral trade would increase to $30 billion by 2008 and to $ 50 billion by 2010. Such phenomenal increase shows the developing economic relation between the two countries. To further develop the relationship, Chinese President, Hu Jintao will be visiting India in November.
However, Sun Yuxi criticized the Indian policy which creates difficulties for Chinese businessmen to invest in India. He said that every year 4, 00,000 Indians visit china, but only 200,000 Chinese visit India and half of these are business men. The Chinese Ambassador said that Indian embassy takes long time to issue visas and trading license are not given to Chinese businessmen for security reasons. The ambassador said that if India expects equal treatment from China, then it should give equal opportunities to China. Presently, there are 150 Indian companies working in China. On the contrary, only 15 Chinese companies are working in India.
Yuxi also said that the tourism infrastructure of India is very poor; hence, it fails to attract tourists from China. Dinesh Sharma, joint secretary, Ministry of Commerce and Industry has agreed to provide all sorts of support to the Chinese companies.
Despite various problems and shortcomings, China and India are observing a rapid economic growth. Both these countries have potential business markets and increase in bilateral trading can be beneficial to both. However, longevity of the trading relationship depends on providing fair support to the counter parts. If the complains brought against India are true, then Indian government should act as soon as possible to solve these problems.
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