India-China trade
A man walks inside a conference room used for meetings between military commanders of China and India, at the Indian side of the Indo-China border at Bumla, in the northeastern Indian state of Arunachal Pradesh.REUTERS/Adnan Abidi/File Photo

The growing trade disputes between the U.S. and China has led to one positive outcome for India: improved commercial ties with China.

Indian and Chinese companies on Saturday signed 101 commercial deals worth nearly $2.37 billion.

The trade boost comes ahead of a proposed meeting between Commerce Minister Suresh Prabhu and his Chinese counterpart Zhong Shan in New Delhi this week.

Here are some of the key highlights of the deals:

  • The commercial deals aim to provide stimulus to trade in black tea, castor oil, peppermint oil, coco fiber, green coffee bean and other products.
  • U.S. exports billions in corn, soybeans, pork and other agri-commodities to China. U.S. agricultural exports to China stood at $19.6 billion last year, with soybean shipments accounting for $12.4 billion.
  • Prabhu and Zhong are also likely to discuss the recent U.S. trade moves, which have targeted both India and China, the Economic Times says.
  • They are meeting at a time when the American president imposed tariffs on up to $60 billion of imports from China to the U.S. Beijing announced plans for reciprocal tariffs on $3 billion of imports from the U.S. to China.
  • Representatives of 30 Chinese companies are currently on a visit to India.
  • While India-China trade grew to $84.44 billion last year, trade deficit rose to $51.75 billion, a rise of 8.5 percent on an yearly basis.