Sino-Indian trade hits high
(Shanghai Daily)Updated: 2007-01-29 13:50 Trade between China and India grew to US$24.9 billion last year, exceeding a US$20-billion goal two years ahead of schedule, the Ministry of Commerce said in Beijing.
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Trade between the two countries has skyrocketed from US$2.91 billion in 2000, achieving an average annual rise of 45 percent, officials said.
India was China's 10th-largest trading partner last year, and China was India's second-largest after the United States.
Investment in India totaled US$170 billion at the end of 2006, mainly in electronics, communications and light industry.
According to Goldman Sachs, India will overtake the US to become the world's second-largest economy, after China, by 2042.
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