According to m.economictimes.com, India and China are preparing for additional bilateral talks to tackle persistent trade imbalances and supply-chain vulnerabilities, with commerce secretary Rajesh Agrawal confirming the discussions are ongoing and likely to continue.
Trade Gap and Export Growth
India’s exports to China rose 39% year-on-year to $9.61 billion during April–August FY27, reflecting targeted growth across key sectors. Engineering goods shipments increased by 20%, electronics by 15%, petroleum products by 13.55%, and chemicals by 10.5%. Despite this expansion, the overall trade deficit with China stood at approximately $56 billion over the same five-month period — underscoring the scale of structural imbalance the two nations aim to recalibrate.
Bilateral Engagement and BRICS Context
The renewed dialogue follows high-level meetings on the sidelines of the BRICS summit in New Delhi last week, where Wang Wentao, China’s Minister of Commerce, met with India’s commerce and industry minister Piyush Goyal. According to Rajesh Agrawal, these are initial discussions guided by political leadership to build mutual trust and advance cooperation in trade. He emphasized that both sides are jointly examining structural issues related to the trade deficit and supply chains — a process intended to be iterative and grounded in practical outcomes.
Strategic Export Diversification
New Delhi is actively pursuing greater market access for Indian products in China as part of a broader effort to diversify and strengthen its export base. The focus includes engineering goods, electronics, petroleum products, and chemicals — categories showing measurable gains in FY27. Agrawal noted that bilateral relations have improved over the past year not only in trade but also in connectivity and people-to-people ties, enabling more constructive engagement on economic issues. “Both sides are working to address trade concerns,” Rajesh Agrawal said, adding that structural issues surrounding the trade deficit and supply chains were being examined and the two sides would continue meeting to work through the issues affecting trade.
Source: m.economictimes.com
Compiled from international media by the SCI.AI editorial team.
