The trade deficit with China stands at US$36.21 billion in 2013-14. This can be reduced to sustainable levels through more exports from India to china as well as China's investing in building manufacturing capacities in India.
Rawat said, India and China will identify the business opportunities in the small and medium enterprises (SMEs) segment across wide range of sectors from agricultural products to textiles and machinery.
"China ranks 31stamong countries contributing FDI to India. FDI inflows from China into India currently stand at $0.575 billion while that from India to China reached $0.898 billion", according to ASSOCHAM paper.
The delegation also focused on strengthening 'smart manufacturing', solar energy, green houses/technologies, railway infrastructure supply staions buildings, and excalators for railway metro stations. ASSOCHAM will be holding a summit for Chinese companies to invest in India.
Some of the major Chinese companies present here are Huawei, ZTE, Haier, Sino Steel, Lenovo, Beijing Automotive Industrial Corporation, Xindia Steel and SANY among others. India also seeks access for Indian IT and pharmaceuticals companies into Chinese market.
ASSOCHAM shall also be organising two exhibitions in two provinces of China in Guangdong and Chengdu during October this year.