India, China To Establish Long-Term Relations

India and China should eye long-term trade relations, said Amit Mitra, secretary general of Federation of Indian Chambers of Commerce and Industry (FICCI).

The two countries must go for diversifying bilateral trade and discovering new chances in the next one or two years if they want to maintain such a rapid trade growth as recent years, said Mitra on Tuesday.

Bilateral trade between China and India increased from $1 billion in 2000 to about $13.6 billion in 2004 and is expected to top $20 billion by the end of this year.