India-China trade has immense potential for growth: Prez

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SME Times News Bureau | 25 May, 2016
President of India Pranab Mukherjee on Tuesday said that there is immense potential for growth in trade, investment and mutual economic cooperation between India and China.

Addressing the Indian community in China at Guangzhou, Mukherjee added, "There has been phenomenal progress in bilateral relations since 1990. Trade between the two countries has increased from US $ 2.9 billion in 2000 to more than US $ 71 billion today."

The President said India's policy towards China is expanding areas of cooperation, reducing differences. Frequent bilateral visits reflect expanding relations between the two great nations.

said India and China are closely cooperating with each other in most multilateral fora. India, a founding member of WTO supported the membership of China from day one. It argued in WTO that it is wrong to keep China with its vast population out of the WTO.

India and China both are founding members of G-20. As the most advanced emerging economies, they are making major contributions to world growth.

The President said if 2.5 billion people of India and China come together and walk together, it will be a great event.

"Intensifying cooperation in trade, investment, development experience, sharing of best practices and cooperating in all areas is the biggest guarantor of peace, development and prosperity. This will ensure the onward march to progress of both nations," he added.

The President said members of the Indian Community are unofficial ambassadors of India in the country in which they live. "They carry part of India in their hearts at all times. India is proud of its diaspora," he said, inviting the Indian diaspora to contribute its best to the gigantic task underway of transforming lives of billions of Indians.