China has assured India that it will open sectors like pharmaceuticals, IT and government contracts for Indian companies, a move which would help remove $20 billion trade imbalance, the Commerce Minister, Mr Anand Sharma, has said.
In an unscheduled meeting with his Chinese counterpart, Mr Chen Deming, here last week, Mr Sharma asked for greater market access for Indian products in the Chinese market.
In 2009-10, India's exports to China were
$ 11.61 billion, while imports stood at
$ 30.79 billion, leaving a huge trade gap of
$ 19.18 billion.
"The kind of trade deficit which we have with China is untenable and unsustainable," Mr Sharma told PTI here.
"We have asked for more access. China has a huge programme on procurement of pharmaceutical and the Indian companies should get access to government contracts and IT sector. It has enough space for the same. I have been assured that this will happen," he said.
The minister, who was here to for the India-Asean Economic Ministers meet, said India's concern on the trade gap has "registered well with the Chinese leadership at the highest level".
Recently China had said that it is keen to import more products from India.
"...the Chinese government wants more and more products imported from India," Chinese Vice Commerce Minister Chen Jian had said.