18 Dec 2010

New trade target agreed by India and China

7:02 am on 18 December 2010

India and China have agreed a new trade target of $US100 billion by 2015. That's up from $US60 billion in 2010.

The world's two most populous countries have also agreed to take measures to promote more Indian exports to China, to reduce India's trade deficit. China is India's largest trading partner.

Companies signed $US16 billion dollars worth of business deals on the first day of a three-day official visit by Chinese Premier Wen Jiabao to India, where he was accompanied by some 400 Chinese business leaders.