Need to find solution to widening trade deficit with China: Swaraj

NEW DELHI: India on Friday said there was a need to find a solution to its expanding trade deficit with China but largely expressed satisfaction over increasing trade and investment ties between the two countries.

After holding wide-ranging talks with her Chinese counterpart Wang Yi, External Affairs Minister Sushma Swaraj also hoped that China will provide support for market access to Indian goods and services.

Bilateral trade between India and China rose by 18.63 per cent year-on-year and reached a historic high of USD 84.44 billion last year. However, the trade deficit continues to remain high at USD 51.75 billion in 2017.

“Our bilateral economic ties have progressed well. While our bilateral trade is on the rise, we also need to find a solution to the continuously increasing trade deficit,” Swaraj said in her media statement in presence of Wang. (AGENCIES)