The details of bilateral trade carried out between India and Japan during the last three years and the current year is given below:-

(value in US $ million)

The CEPA Agreement between India and Japan signed in Feb.,2011 and entered into force in August, 2011 is expected to double the India-Japan Bilateral Trade to US$ 25 billion by 2014.

The Prime Minister of Japan, Mr. Shinzo Abe visited India on an official visit during 25-27 January, 2014 and held extensive talks with Prime Minister Dr. Manmohan Singh during their Annual Summit on bilateral, regional and global issues on 25th January, 2014.

Comprehensive Economic Partnership Agreement (CEPA) between India and Japan has deepened the bilateral economic relations and both countries would continue to work closely to further expand trade in goods and services as well as investments by Japanese companies in NIMZs and in India-Japan joint projects such as the Delhi-Mumbai Industrial Corridor (DMIC) and the Chennai-Bengaluru Industrial Corridor (CBIC).

Indian Shrimps exporters would benefit from relaxation of Maximum Residue levels (MRL) of Ethoxyquin on Shrimps by Japan to 0.2 ppm with effect from 21st January, 2014.

The information was given by the Minister of State in the Ministry of Commerce and Industry Dr. E.M. Sudarsana Natchiappan in Rajya Sabha today.

Comprehensive Economic Partnership Agreement expands trade and investment ties, enabling tariff and regulatory facilitation and sectoral market access. The Comprehensive Economic Partnership Agreement between India and Japan, in force since August 2011, is the principal legal framework expected to expand bilateral trade and investment by facilitating market access, increasing trade in goods and services, and promoting Japanese investment in National Investment and Manufacturing Zones and major industrial corridor projects; it is linked to regulatory adjustments such as the partner state's relaxation of a Maximum Residue Level for a shrimp preservative benefiting exporters.