China is all set to become a leading trade partner of India in next five years. US is a top trade partner of India by now. The mutual trade between two countries is expected to touch $100-bn mark by 2013-14. The bilateral trade between the two countries would reach at 50 billion dollar mark in the fiscal ending March 2009.

India has a significant economic partnership with European Union with 56 billion euro trade. The trade would reach at 100-billion euro in the next five years as per the target of recent India-EU Summit at Marseilles (France).

The Commerce secretary, GK Pillai said that India and china are leading members of WTO and mutual co-operation is need of the hour to achieve the desired trade target. He also discussed the various trade issues with meeting with Chinese vice minister for trade Gao Hucheng in a recent meeting between them.

A group of 60 businesspeople is also in India to meet their counterparts. The delegation has come in India after the successful talks between Chinese Premier Wen Jiabao and Prime Minister Manmohan Singh during the latter’s visit to China earlier this year. India has already proposed trade of 24 commodities through Nathu la route.