India and Japan to Review Trade Pact and Streamline Investment
· Business · Indian Express, Times of India
India is set to review its 2011 trade agreement with Japan to address a widening trade deficit and facilitate 10 trillion yen in committed investments over the next decade. Commerce Minister Piyush Goyal is leading a delegation of over 220 stakeholders in Tokyo from August 24 to 27 to strengthen bilateral economic ties. During a roundtable meeting, Goyal encouraged Japanese firms to deepen localization efforts in India to enhance cost competitiveness and global supply chain integration. The government aims to double the number of Japanese companies operating in India, building on the success of existing firms like Suzuki Motor Corporation.
Why it matters
This review aims to boost foreign direct investment and improve trade balance, directly impacting the manufacturing sector and industrial collaboration between the two nations.
Read the original report — Indian Express
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