The trade deficit, a major concern of India for years, stood at USD 99.2 billion in 2023 in the overall bilateral trade of USD 136.2 billion.
In 2022, the trade deficit crossed the USD 100 billion mark by touching USD 101 billion for the first time.
India has been periodically flagging concerns and pressing China to open its IT and pharma sectors besides grains, its major export potential sectors.
In an interaction with the PTI and China’s CGTN-TV here before he headed to New Delhi to take up his posting, Xu reiterated Beijing’s often repeated assertions that it is not China’s intention to seek a trade surplus.
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