India, China agree to 'properly address' economic, trade concerns in balanced way

China on Monday said it stands ready to work with India to “properly” address each other’s economic and trade concerns in a balanced manner, while ensuring greater benefits for businesses and people in both countries. Beijing said India is an important neighbour and that it stands ready to work with New Delhi to implement the important consensus reached by the leaders of the two countries.

China's Minister of Commerce Wang Wentao met commerce and industry minister Piyush Goyal Sunday.

“Met with Mr. Wang Wentao, Minister of Commerce of the People’s Republic of China, and discussed India-China trade and economic ties,” Goyal said in a social media post Sunday.


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The spokesperson of the Chinese embassy in India said that India is an important neighbor of China and it stands ready to work with India to implement the consensus reached by the leaders of the two countries.

Read more - Xi & Modi reached most important consensus that India-China should be partners: Wang Yi

Prime Minister Narendra Modi and China’s President Xi Jinping met on September 2 during the BRICS Summit when the Chinese president said India and China should view each other as partners rather than rivals, and development opportunities rather than threats, as the two countries seek to place bilateral ties on a steadier footing.

He called for an “objective and rational strategic perception” of the relationship, saying both sides should draw on each other's strengths, support each other and pursue common development.

“India is an important neighbor of China. China stands ready to work with India to implement the important consensus reached by the leaders of the two countries, expand mutually beneficial cooperation in the economic and trade fields, properly address each other's economic and trade concerns in a balanced manner, and better benefit enterprises and people of both countries,” Yu Jing, the spokesperson of the Chinese embassy in India said in a social media post Monday.

India’s goods exports to China in April-July FY27 were $7.8 billion while imports were $52.7 billion.

India imported around $131.6 billion worth of goods from China in FY26, compared with exports of $19.5 billion, leaving a trade deficit of above $112 billion.