Mumbai, Dec 13: Projecting the economic growth of India and China Chinese diplomat said that bilateral trade between two big asian economies India and China will touch $65 for the year ending December 2016.
He was speaking at the inaugural function of 4th China Home life Fair and China Machinex Fair at NSE Grounds, Goregaon. Confederation of Indian Industry is co-organiser in this event
Expressing his happiness on the bilateral trade Chinese Consulate Wang said that mutual cooperation between the two countries has resulted in a win-win situation for both and would help increase profitability in the coming years.
"The bilateral trade between the two nations stood at $52.14 bn from January-September 2016 and is expected to cross $65bn by the year-end, according to official figures," said Wang Shicai, Commercial Counsellor at the Chinese Consulate.
He also stated that, the key sectors China focused in India during the year were financial, infrastructure, electronics and IT, besides many others.
"Indian exports are expected to reach $30 bn in next ten years and we have welcomed Chinese companies participation across sectors” said K. Nandakumar CMD of Chemtrols Industries Ltd who is also a Co-chairman of CII Task Force on Ease of Doing Business
On this occasion Ministry of Commerce officer Ajay Shankar, Wenzhou Commercial Bureau director Chen Xiang Dong, Mumbai Mayor Snehal Ambekar and other dignitaries were present.
Around 523 companies are taking part in the China Machinex and 136 are displaying products in the China HomeLife expo ranging from appliances to furniture, textiles-garments, kitchen and bathroom, garden and leisure, lightings and gifting.