Business · India Bureau
India Open to Expanding Bilateral Trade Pact with Japan: Goyal
India has signalled its willingness to broaden the scope and scale of its Comprehensive Economic Partnership Agreement (CEPA) with Japan. The move aims to modernise the trade framework to reflect evolving bilateral commercial ties.
LSN India ·
India is open to expanding the India-Japan CEPA to better reflect the contemporary nature of bilateral trade and investment relations, according to statements from Indian officials. The government believes the existing trade pact requires updates to address the changing dynamics of commerce between the two nations.
The Comprehensive Economic Partnership Agreement, which has governed trade relations between India and Japan, currently covers various sectors but officials have indicated that its scope may need broadening. The proposed expansion would enhance coverage across multiple areas of bilateral economic engagement.
Modernising the trade framework is seen as essential to capturing new opportunities emerging from evolving market conditions and investment patterns. Both nations have maintained strong economic ties, with Japanese companies maintaining significant operations across Indian manufacturing and technology sectors.
The statement reflects India's strategic intent to deepen economic integration with Japan, a key partner in the region. Such expansions to bilateral trade agreements typically involve negotiations spanning multiple sectors and regulatory frameworks to ensure mutual benefit.