Beijing, Jan 27 (Agencies): In a significant achievement, Sino-India bilateral trade in 2010 has surpassed USD 60 billion target at USD 61.7 billion on the strength of Indian imports. The two countries were on course to meet the new target of USD 100 billion for 2015, set during Chinese Premier Wen Jiabao’s recent visit to New Delhi, officials said.

Driven by the surge in Indian imports of Chinese telecom and power generation machinery to aid the country's infrastructure expansion, bilateral trade registered USD 1.7 billion more than the target.

According to official preliminary figures released here, Indian exports, especially cotton and iron ore exports to China amounted to USD 20.8 billion. The Chinese exports to India totalled to USD 40.8 billion.

Commenting on the new trade figures, K Nagraj Naidu, First Secretary, Economic and Commerce at the Indian Embassy said while bilateral economic trade ties were on positive track, it is important for both the countries to realise greater cooperation.

India is keen awaiting China to open its markets for IT, Pharmaceuticals, Agro products and Engineering services, and President Wen during his visit to India last year said China would seriously address the trade gap.

According to Indian officials, Indian exports included iron ore, cotton, yarn and cotton products, chemicals besides small machinery and pharma products majorly.

The volume of Indian exports was comparatively lesser than 2008 when Indian exports totalled to over USD 23 billion. The decline in Indian exports was mainly caused by drop in iron ore exports.

China’s exports to India on the other hand surged as the country is cashing on the massive telecom and power equipments exported to India.