India, China agree on task force to look into market access

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Beijing: India and China have agreed to set up high power task force to address New Delhi’s concerns over increasing trade deficit and lack of access to its pharmaceuticals, IT and agricultural products following Prime Minister Narendra Modi’s talks with Chinese leadership.

The two countries have agreed to set up the high power task forces after Modi’s talks with President Xi Jinping yesterday in Xi’an and Premier Li Keqiang here Friday, Foreign Secretary S Jaishankar told media here today.

Modi flagged India’s concerns in his comments after his talks with Li as recent official reports said the deficit touched USD 48 billion in the total trade of about USD 70.6 billion last year.

The task force was being formed because there is not enough movement on India’s calls for more access to pharmaceuticals and IT which Indian officials have identified as India’s strong areas, Jaishankar said.

The Chinese side was positive to India’s concerns. “It is not Chinese side is in denial about it. The challenge is getting it done,” he said.

The Chinese side too has its concerns about visas and slow movement on its investments which were flagged off by Chinese leaders in recent interactions with Indian officials.

PTI

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