India-Japan trade may touch $15 b by 2010: CII
Trade between India and Japan has the potential to double in the next two years if issues like trade facilitation and non-tariff barriers are addressed, according to industry body CII. India-Japan trade can reach $15 billion by 2010 from $7.5 billion in 2006-07. New areas of trade in services, higher investment flows into India from Japan, promoting people-to-people contact are other ways through which the level of bilateral trade can increase," CII said. Bilateral trade has more than doubled since 2002-03 with trade balance in favour of Japan. "While import duties on most goods in Japan is low at present, the India-Japan Comprehensive Economic Partnership Agreement (CEPA) can raise the level of India's exports," it said in a study.