Commerce & Industry Minister Anand Sharma on Monday raised India's concerns over widening trade deficit with China, also expressed worries over visa issues and duty increase imports by India.

The issues were raised at the meeting of the India-China Joint Group on Economic Relations, Trade, Science and Technology (JEG), attended by the respective commerce ministers of the two countries.

Bilateral trade between India and China jumped from $59,000.36 million in 2010-11 to $75,457.42 million in 20111-12. While the figure for exports for 2011-12 was recorded at $17,902.98 million, imports stood at a whopping $57,554.44 million. The figures represent a trade deficit of $39.65 billion in China's favour.

Indian Commerce & Industry Minister Anand Sharma said that China's commerce minister Chen assured him that concerns over the issues like adverse trade deficit and market access for Indian IT and pharmaceutical products would be addressed soon. Both sides also agreed to seriously search for new ways to encourage mutual investment.

Speaking about the meeting, Mr. Sharma added, "We have also agreed to work on a five-year plan on economic cooperation. This has been proposed by Chen Deming and we welcomed and endorsed that."

The two sides also announced that the two countries would establish a Joint Working Group (JWG), which will give recommendations and assessments in ninety days.