China has agreed to send frequent buying missions to India to diversify its import basket from the country in the backdrop of New Delhi?s concern over burgeoning trade deficit that crossed &9 billion last year in Beijing?s favour.
?In my long meetings with my counterpart Chen Deming… he clearly realised that such a large trade imbalance is not desirable and sustainable. He offered to send buying missions to India frequently to promote a more diversified basket of exports from India to China. I have requested Ficci and CII to host these promised missions and find suitable niche areas where we have core competency with a globally competitive edge,? commerce minister Kamal Nath told reporters here on Monday.
He also indicated forward momentum in bilateral investment matters by stating that Great Wall Airlines proposal to launch cargo services to Mumbai and Chennai had been cleared. In return, he remained optimistic that Jet Airway?s proposal to fly directly to China and use Chinese airports like Shanghai as hubs for onward flights to the US would be cleared.
Subhash Chandra?s proposal to have satellite landing rights in China is also expected to go through. India also wants to diversify the basket of exports to China by including fruits and vegetables.