'Indian companies are welcome in China, ready to reduce trade deficit too', China's tone changed after Trump's setback

The India-China trade deficit has gone up to nearly $100 billion. India is attempting to bring it down. In the meantime, China, worried about Donald Trump's tariffs, has made a significant proposal to India. China is now willing to bring the trade deficit with India down. China has made it clear that it wants to cooperate with India.

In his first interview with the Times of India, Chinese ambassador Xu Feihong said that China wants strong relations with India. We are also ready to reduce India's trade deficit. Indian exports will be promoted in China. He also hoped that Chinese companies would be given a fair environment in India as well. Xu Feihong said that premium Indian products are welcome in the Chinese market.

The Chinese ambassador further said that economic and trade relations between the two countries would be beneficial. On the trade deficit, he said that China has never deliberately increased the trade surplus. This happens due to market trends and changing economic conditions. But we are ready to reduce the trade deficit with India.

The Chinese ambassador quoted Xi Jinping as saying that China is the second-largest consumer market in the world. There is immense potential for investment and consumption in the huge middle-income group here. Indian businesses should take advantage of this. He also informed that in the last financial year, China imported chilli, iron ore, and cotton yarn from India. India also witnessed export growth of more than 17%, 160%, and 240%, respectively.

Xu Feihong said in the interview that I hope India will also take China's concerns seriously. It will provide a fair, transparent, and non-discriminatory environment for Chinese industries. He further said that Indian companies can leverage platforms such as the China International Import Expo, China-Asia Expo, and China International Consumer Products Expo to connect with Chinese buyers and consumers.