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Sino-Indian trade hits all-time high in 2000

Bilateral trade between India and China has for the first time nearly touched $3 billion with Indian exports registering a hefty 63.5 per cent hike in 2000, official sources in Beijing said on Thursday.

According to latest Chinese customs figures, Sino-Indian bilateral trade in 2000 was worth $2.92 billion, up 45 per cent over the corresponding figure in 1999.

India's exports to China amounted to $1.35 billion, up 63.5 per cent while Chinese exports to India also went up by 35 per cent to touch $1.57 billion.

Commenting on the upsurge in bilateral trade, an official source said the trend was "very encouraging" and called for more interaction and exchange between the Chinese and Indian businesses.

"The psychological barrier of $2 billion has been crossed for the first time in India-China trade," he said while emphasising that China, the world's most populous country presents huge opportunities for Indian industries, who are quite aware of the happenings next door.

"While the rest of the world has over the past 20 years been aware of and exploited the opportunities presented by the opening China market, we in India have been much slower in realising the opportunities that exist here and in grasping such chances," an official said.

Moreover, China's accession to the World Trade Organisation (WTO) in the near future would make Indian industry sit up and realise the potential of the China market.

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