The Asian giants India and China have agreed a new $100 billion bilateral trade target by 2015, up from $60 billion in 2010.
The two sides agreed to take measures to promote greater Indian exports to China, to reduce India's trade deficit between the two countries.
Companies have already signed business deals worth $16 billion on the opening day of Chinese PM Wen Jiabao's three-day official visit to India.
The latest of a number of world leaders to visit India, Mr Wen is accompanied by some 400 Chinese business leaders.
China is India's largest trading partner.