Sitharaman asks Chi for greater market access to cut trade deficit

New Delhi, Oct 13: India has sought greater market access for its goods, especially rice and pharmaceutical products, into Chi in view of its mounting trade deficit which is a cause of growing concern, an official statement said here on Thursday. “Commerce and Industries Minister Nirmala Sitharaman and Chinese Vice Minister for Ministry of Fince and Commerce Wang Shouwen exchanged notes on trade and commerce and agreed that the mounting bilateral trade deficit has been a cause for concern for India which seeks greater market access for its goods for a long-term sustaible trade relationship,” a statement from the Commerce Ministry said. Sitharaman asked for expeditious clearances for import of Indian rice and pharmaceutical products into Chi — especially those which already have US Food and Drug Administration accreditation. Expressing concern at the long-drawn procedures for clearances which tend to frustrate the Indian companies seeking business opportunities in Chi, she asked Wang to consider demonstration of IT/ITeS projects for Indian companies, which have acquired global acclaim. (IANS)