India, China to meet trade target by 2010

New Delhi, Mar 25 | Updated: Mar 26 2008, 04:55am hrs
India and China, the two fastest growing economies in the world, are set to achieve a bilateral trade target of $60 billion by 2010 despite the Indian industry becoming wary of signing a free trade agreement with the neighbouring economic giant.

Chinas ambassador to India Zhang Yan said here on Monday that the Chinese government would provide full support towards realising the target for bilateral trade, which is increasing by 50% per annum.

He said, the bilateral trade between the two countries was in order of $38 billion last year.

People are stressing that India and China are the future of the world economy, Yan said, adding both India and China are facing unique opportunity to strengthen themselves economically.