NEW DELHI, July 7: The India-China Joint Business Council (jbc) MEETING HELD in Beijing on Monday has set a target of $5 billion for bilateral trade by the turn of the century, up from $1.4 billion at present.

The JBC conclave, organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Associated Chambers of Commerce and Industry (Assocham), noted that in the first five months of the current financial, bilateral trade shot up to $750 million.

This is expected to cross last year's figure of $1.4 billion and be in the vicinity of $2 billion. Commerce minister B B Ramaiah, who attended the JBC meeting, said the handover of Hong Kong to China signifies the end of the colonial era. India is looking forward to have a dynamic and forward looking investment and trade policy with China, he added.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.