China has replaced Japan as India's top trading partner in the region, Indian Junior Trade Minister E.V.K.S. Elangovan said Tuesday.
Chinese Premier Zhu Ronji's visit to New Delhi in 2002 has resulted in Sino-Indian trade flourishing to touch 7.6 billion dollars in 2003, he said.
Elangovan told a 100-member Chinese business delegation attending an India-China business conference here that India and China were on track to break the 10 billion dollar annual trade target set by their respective governments.
"India-China trade is moving swiftly towards the historic 10 billion dollar mark," the minister told the conference.
"There is a growing symmetry between our countries and it is reflected in the fact that China has now become India's number one trading partner in the north-east Asian region, overtaking Japan."
Shao Qiwei, chief of the Chinese business delegation, told the conference both countries must break down geographical barriers in order to boost trade.
"India and China should promote transit and border trade and pursue co-operation between neighbouring provinces to exploit our geographical proximity," said Shao.
Businesspeople from both countries have appealed to the Asian giants to throw open the ancient Himalayan Nathu La trade route.
Situated 14,500 feet (4,400 metres) high, the Nathu La pass used centuries ago by silk traders has been closed since 1962 when war broke out between China and India, which are now striving for better ties.
Nathu La's reopening was agreed to a year ago when India's then prime minister Atal Behari Vajpayee travelled to Beijing and decided with his Chinese counterpart Wen Jiabao to soothe disagreements over Sikkim and Tibet, the two territories of the pass.
India's new left-leaning government which took office in May this year has committed itself to building a warmer relationship with China and bumping up trade.
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