China agreed to give India greater access to its markets for pharma, agriculture and IT products. India has been upset with China because only $18 billion of products flows from India to China, while $57 billion of China products found its way to India over the past 12 months. Most of India’s trade deficit derives from its relationship with China. For its part, China is fretting about a 21% customs duty – done as a warning to China – that India has levied on China power equipment. More details....

Share this with colleagues: