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Summary
Indian and China have agreed a new $100bn (66bn) bilateral trade target by 2015, up from $60bn (38bn) in 2010. The two sides agreed to take measures to promote greater Indian exports to China to reduce India's trade deficit. Companies have already signed business deals worth $16bn (10.2bn) on the opening day of Chinese PM Wen Jiabao's three-day official visit to India. The latest of a number of world leaders to visit India, Mr Wen is accompanied by some 400 Chinese business leaders. China is India's largest trading partner. A joint communique signed by the two sides on Thursday said that they had agreed to expand co-operation in infrastructure, environment, information technology, telecommunications and investment and finance. It said that both wanted to draw on each other's strengths and pursue mutual benefit and win-win results. Mr Wen held talks on Thursday with Indian PM Manmohan Singh. The two men discussed a number of sensitive issues, including a long-running border dispute. The two countries signed some 50 deals in power, telecommunications, steel, wind energy, food and marine products worth $16bn at the end of a business conference attended by Mr Wen in the capital, Delhi, on Wednesday evening. This overtakes the $10bn of agreements signed between Indian and American businesspeople during the recent visit of US President Barack Obama.
