India and China are on track to reach their bilateral trade target of $60 billion by 2010 despite India’s reluctance to sign a free trade agreement with China. Trade between the nations is currently increasing by approximately 50% per year, having totalled $38 in 2007.

A study carried out by the Federation of Indian Micro and Small and Medium Enterprises (FISME) has predicted that the target will be exceeded and will actually be closer to the $100 billion mark by 2010. It predicts that particularly high growth will be shown by the textile, apparel, leather and chemical sectors.

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