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India opens largest-ever trade show in China

BEIJING - Launching the largest-ever Indian industrial exposition in China, India's Commerce and Industry Minister Arun Jaitely said that a dynamic India, enjoying political stability and economic growth, is ready to join hands with China to accelerate trade ties to achieve the targeted US$10 billion in bilateral trade by end of 2004.

Noting that India-China economic relations have witnessed qualitative transformation in recent years, Jaitely said that during the first eight months of this year, bilateral trade has already crossed the $4 billion mark.

"At the current rate, the bilateral trade target of $10 billion that prime ministers of the two countries have set for us is within reach," Jaitely said while inaugurating the "Made in India" show, jointly organized by the Confederation of Indian Industry and the Indian embassy in China.

Jaitely stressed that the reform process initiated by India has not been affected by change of governments in India.

"Changes in governments have not changed the direction of the reform process," he said, while stressing that the Indian economy has registered impressive expansion and growth in the last two decades.

"Over the last 12 years, the Indian economy has maintained an average annual growth of over 6 percent. We have targeted an 8 percent growth over the next five years, and we aim to double the gross domestic product within the next decade," he told the captains of Indian and Chinese industries at a well-attended opening ceremony for the show.

(Asia Pulse/PTI)
 
Oct 18, 2003


 
     
         
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