India and China will set up a mechanism to tackle India’s galloping trade defici...
India's Prime Minister Narendra Modi and China's President Xi Jinping look on during their meeting in Mamallapuram on the outskirts of Chennai, India, October 12, 2019. India's Press Information Bureau/Handout via REUTERS
MAMALLAPURAM, India - India and China will set up a mechanism to tackle India’s galloping trade deficit with the world’s second-biggest economy, a top Indian diplomat said on Saturday, following summit talks between Prime Minister Narendra Modi and President Xi Jinping. Xi, who is visiting India, and Modi held several hours of one-on-one talks in a southern seaside Indian town, during which they discussed a range of economic issues, including India’s $53 billion trade deficit with China in 2018/19, and ways to tackle it.
Indian Foreign Secretary Vijay Gokhale said at a press briefing that the deficit was a concern for India and the Chinese side was willing to address it. Xi welcomed Indian investment in pharmaceuticals and textiles, he added. Reporting by Sanjeev Miglani in MAMALLAPURAM; Additional reporting by Zeba Siddiqui; Editing by Shri Navaratnam
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kashmir and border dispute will likely top the agenda as India and China leaders meetThe leaders of India and China are expected to talk about their unsettled border dispute when they meet, and may also address their differences over Kashmir.
Read more »
Asia stocks set to trade higher amid US-China trade optimismInvestors will watch for market reaction to overnight developments on U.S.-China trade. American President Donald Trump said in a tweet Thursday that he is set to meet with Chinese Vice Premier Liu He on Friday, raising expectations that progress could be made on the trade front by the two economic powerhouses.
Read more »
US-China agree to partial trade deal as Trump suspends October tariff hikeAs part of the initial deal, Beijing has agreed to limited measures that could see better ties between the two countries while the US will suspending a tariff hike that was due to take effect on Tuesday.
Read more »
The astonishing and violent rise of the East India CompanyAdam Smith called the East India Company a “strange absurdity”. Edmund Burke accused it of “cruelties unheard of”
Read more »
U.S., China reach partial trade deal: reportThe U.S. and China reached a partial trade agreement Friday that could help lead to a truce in their trade war and lay the groundwork for a broader deal,...
Read more »
Chinese foreign ministry hopes China can work with U.S. for progress on trade talksChina's foreign ministry said on Friday it hoped China can work with the Un...
Read more »