India and China Discuss Trade Balance and Partnership in Manila Meeting

Indian Foreign Minister S. Jaishankar and Chinese Foreign Minister Wang Yi met in Manila during the East Asia summit. Wang Yi said the two countries are partners, not rivals, and called for deeper cooperation in multilateral forums such as BRICS.

Jaishankar stressed that India needs fair market access for its goods, citing a widening trade deficit of roughly $112 billion projected for 2025‑26, up from $99 billion the previous year. He warned that while China’s market remains open to Indian imports, Indian exporters face significant barriers, especially in pharmaceuticals, information technology and agriculture. The Indian minister urged China to open its markets to Indian products to rebalance bilateral trade.

Both ministers agreed to maintain peace along their borders, strengthen institutional dialogue and coordinate on global issues, while acknowledging the importance of their partnership for the broader global south.