India and China to amplify trade to $100 Billion by 2015

India and China agreed to enhance their defence and security dialogue and to take measures to ensure that the two countries reach a $100 billion trade target by  2015. It was decided on the sidelines of the Ri0+ 20 summit at Rio De Janeiro.

India and China agreed to maintain political dialogue at the political level. Both decided that the special representatives would work for preparing the joint record of their work so far, which was already announced in January 2012 and provide directions for the future co-operation between the two countries.

The special representatives of both the nations would submit a report on the developments so far by January 2013. India would establish inter-ministerial group on its part while China would organize an official team that would periodically share views on maritime matters pertaining to trade & security.

Month: Current Affairs - June, 2012