Beijing: India-China bilateral trade surged by an impressive 87.68 per cent in the first quarter of this year at $ 3.13 billion, on track to break the $ 10 billion for the first time, official sources said.

"At this rate, we could surely look at India-China bilateral trade exceeding $ 10 billion by the end of this year," an official source said.

In 2003, India-China trade touched a record $ 7.6 billion.

India's exports to China during January-March period grew by 124 per cent to $ 2.12 billion, more than double from the level reached in corresponding period last year.

On the other hand, India's import from China during the first quarter reached $ 1.01 billion, up 39.94 per cent.

India enjoyed a hefty trade surplus of $ 1.11 billion during the first quarter compared to $ 224.32 million during the corresponding period last year, Chinese customs statistics showed.

In March 2004 alone, India's exports to China were worth $ 879.5 million, while India's imports from China were $ 386.2 million. Trade in the single month of March 2004 was worth $ 1.27 billion.

During March 2004, bilateral trade between India and China grew rapidly, primarily on account of growth of iron ore exports from India, official sources said.