India and China have raised their bilateral trade target by 50 per cent, aiming for USD60bn by 2010, the Times of India reports. However, the significant trade uplift was announced at the same time as Indian Prime Minister Manmohan Singh called for a "level playing field" during his three-day visit to Beijing.
India is running a huge, and growing, trade deficit with China, the
newspaper added, and Singh has voiced his desire for “the removal of
non-tariff barriers, administered exchange rates and a strengthening of
an Intellectual Property Rights regime by the Chinese authorities.”
On a more conciliatory note, the Times notes that the Indian PM is
focusing on collaboration and complementarities. "India and China are
today the fastest growing large economies in the world. As the
21st-century unfolds, both India and China stand poised to regain their
weight in global economy," he said.
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