As trade relations between US and China deteriorated to a new low after President Trump announced import tariffs on Chinese goods, the Communist state on Saturday signed 101 trade agreements valued at about $2.37 billion with India.

China's Ministry of Commerce (MOFCOM) announced India and China had reached stuck deals on various sectors including black tea, castor oil, peppermint oil and coco fiber, all the "areas where India has an advantage", the MOFCOM statement said.

China's Global Times newspaper said bilateral trade between the two Asian giants surged 26.1 per cent on a yearly basis in the first two months of 2018. Last year, it zoomed 20.3 per cent.

The right-leaning newspaper added that Chinese businessman are especially interested in electronics and India's potential in the Internet sector. The China daily said Chinese companies that have already invested in India are mostly maintaining or increasing their business.

China's recent trade overtures towards India comes after President Trump on Thursday imposed import tariffs worth over $50 billion on Chinese goods even as top Chinese officials protested promising to hit back with similar tariffs on a number of American goods.

China's Global Times newspaper said bilateral trade between the two Asian giants surged 26.1 percent on a yearly basis in the first two months of 2018. Last year, it zoomed 20.3 per cent.