China is now ready to address trade concerns with India

China has indicated on Monday that it is prepared to collaborate with India in a balanced manner to tackle their respective economic and trade concerns, thereby benefiting the enterprises and citizens of both nations. This declaration follows a meeting between Chinese Commerce Minister Wang Wentao and Indian Commerce and Industry Minister Piyush Goyal, where the focus was on enhancing bilateral trade and economic ties.

Minister Goyal reaffirmed China's willingness to cooperate with India in addressing the consensus reached by the leaders of the two countries during their meeting. The Chinese embassy in India's spokesperson stated that China is ready to work with India to implement the consensus, expand mutually beneficial cooperation in the economic and trade fields, and resolve economic and trade concerns in a balanced manner.

The meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping took place on September 2 during the BRICS summit. President Xi emphasized the importance of viewing India and China as partners rather than rivals, and called for an objective and rational strategic perception of their relationship. He advocated for both countries to draw on each other's strengths, support each other, and pursue common development.

In April-July 2027, India exported $7.8 billion worth of goods to China, while importing goods valued at $52.7 billion. India's imports from China in FY26 amounted to $131.6 billion, compared to exports of $19.5 billion, resulting in a significant trade deficit of over $112 billion.