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Xi Jinping sets Indo-China bilateral trade target at 100 billion dollars

The foreign secretary said China would also take steps to boost the trade with India in the pharmaceutical sector.

Xi Jinping sets Indo-China bilateral trade target at 100 billion dollars

Qingdao: Taking the Indo-China bilateral trade to the next level, Chinese President Xi Jinping has set its growth target to 100 billion dollars by 2020.

While holding bilateral talks with Prime Minister Narendra Modi on Saturday in Qingdao on the sidelines of Shanghai Cooperation Organisation summit, Xi said China is willing to enhance its agricultural trade with India by increasing the import of sugar, and non-basmati rice, Foreign Secretary Vijay Gokhale said at a press conference here.

The foreign secretary said China would also take steps to boost the trade with India in the pharmaceutical sector.

On the other hand, the Indian side expressed readiness to allow Bank of China to establish one of its branches in Mumbai.

The foreign secretary also said new people-to-people mechanism will be set up which will be headed by Sushma Swaraj and China`s foreign minister Wang Yi.

The first people-to-people meeting will be held within this year.