BEIJING – India’s Trade deficit with China stood at $36.73 billion duringApril-October this fiscal. India’s trade deficit with China has marginallydipped to $51 billion in 2016-17 from $52.69 billion in the previous fiscal.

China on Monday promised to address the issue of widening trade deficitwith India as the country sought greater market access for its goods andservices, the Commerce and Industry Ministry said.

The issue of trade imbalance with the neighbouring country was discussed indetail during the meeting of India-China Joint Group on Economic Relations,Trade, Science and Technology here.

Commerce and industry minister Suresh Prabhu and his Chinese counterpartZhong Shan chaired the meeting.

The Chinese minister “promised to address the trade deficit between the twocountries,” the ministry said in a statement.

Both the sides deliberated upon ways to boost two-way trade, preparation ofan action plan, greater focus on Regional Comprehensive EconomicPartnership (RCEP) and e-dialogue.

Prabhu said addressing India’s trade imbalance with China is the mostimportant matter to be taken up by the group.

“Minister exhorted his Chinese counterpart for greater market access foragricultural products like rapeseed, soyabean, basmati and non-basmatirice, fruits, vegetables and sugar,” it said.

He also said that India can export high quality pharmaceutical productsbesides IT and ITeS services to China and increase cooperation in thesectors like tourism and healthcare.

The group was formed in December 1988 during the visit of the then PrimeMinister Rajiv Gandhi to Beijing.