Holding bilateral discussions with the Prime Minister, Narendra Modi in Qingdao on the sidelines of Shanghai Cooperation Organisation summit yesterday, the Chinese President, Xi Jinping has set the growth target for Indo-Chinese bilateral trade to $100 billion by 2020.
China is willing to enhance its agricultural trade with India by increasing import of sugar and non-basmati rice, Foreign Secretary (FS), Vijay Gokhale informed the media of the outcome of the discussion.
The FS said China would also take steps to boost trade with India in the pharmaceutical sector.
On the other hand, the Indian side expressed readiness to allow the Bank of China to establish one of its branches in Mumbai.
He also said that a new people-to-people mechanism will be set up which will be headed by India’s External Affairs Minister, Sushma Swaraj and her Chinese counterpart, Wang Yi.
The first such people-to-people meeting will be held within this year.