With bilateral trade reached 18 billion US in 2005 and projected to cross 20 billion US by 2008, India emerges as China’s biggest trading partner in South Asia, reports Hindustan Times.   Going by the growth in economic and bilateral ties, India and China can achieve a trade volume of US$20 billion well before 2008, according to Zheng Qingdian, minister counsellor at the Chinese embassy in India.   Over 150 Indian companies led by Ranbaxy, Tata Consultancy Services and Infosys have established branches and completed almost 1,000 projects in China, Zheng added.   Since 2005, India has become one of the most important overseas markets for project contracts of Chinese enterprises.  China has become India’s third largest trading partner.