NEW DELHI: According to the latest provisional trade data available for the year 2002-03 (April-February), total trade for the 11 months was worth $4.2 billion as against $2.6 billion during the corresponding period in the previous fiscal year. India's $1.6 billion exports to China during the period indicated a growth of nearly 100 percent over the $846.30 million during the corresponding period in 2001-02, a commerce ministry statement said Wednesday. The growth has been led by a substantial increase in the export of steel, manufactured goods and other products. During Prime Minister Atal Bihari Vajpayee's trip to China, Commerce Minister Arun Jaitley and his Chinese counterpart had discussed ways of boosting bilateral trade. Some of the specific issues discussed in the field of external trade included the next meeting of the Joint Economic Group and the need for a comprehensive approach in prescribing phyto-sanitary standards. India is now looking forward to exporting mangoes to China from next year with the Chinese authorities having already given phyto-sanitary clearance, the statement said. India is also studying the possibility of exporting agriculture produce, including food grains to China. The supply of tobacco, which was stopped a few years ago over the issue of quality, is also being explored. Both countries have agreed to work together on World Trade Organisation (WTO)-related negotiations as both have several common concerns, including Trade Related Intellectual Property Rights (TRIPS)-related issues.
Source: IANS