Shri Rajesh Agrawal Calls for Diversified and Balanced India–Japan Trade; Highlights CEPA’s Full Potential and Export Opportunities

The 7th Joint Committee Meeting under the India–Japan Comprehensive Economic Partnership Agreement (CEPA) was held on 2 March 2026 in Tokyo, Japan. The meeting was co-chaired by Secretary, Department of Commerce, Shri Rajesh Agrawal, Government of India, and the Senior Deputy Minister, Ministry of Foreign Affairs, Government of Japan.

Both sides reviewed issues relating to the implementation of the CEPA and deliberated on ways to further strengthen bilateral economic engagement.

On the sidelines of the meeting, Secretary, Department of Commerce, Shri Agrawal, met the Vice Minister of the Ministry of Economy, Trade and Industry (METI). Discussions covered a wide range of issues, including bilateral trade and investment, improving the business environment, and the upcoming 14th Ministerial Conference of the World Trade Organization (WTO).

During the meeting with the METI Vice Minister, Shri Agrawal highlighted the shared vision articulated by the leaders of both countries during the Annual Summit in August 2025 and underscored the need to enhance and diversify bilateral trade and investment. He emphasized the strong complementarities between the two economies—Japan’s strengths in technology, capital, and advanced manufacturing, and India’s skilled workforce, large market, and rapidly growing economy. He stressed the importance of harnessing the full benefits of the CEPA, including the movement of natural persons as envisaged during the Leaders’ Summit.

Shri Agrawal noted the significant potential for growth in Indian exports to Japan in sectors such as textiles, pharmaceuticals, agriculture, and services. He also underlined the importance of achieving a more balanced bilateral trade relationship to ensure long-term sustainability.

The Commerce Secretary further engaged with leading representatives of Japanese industry during a roundtable interaction. In the evening, a Trade and Investment Roadshow was organized by the Embassy of India in Japan in collaboration with the Confederation of Indian Industry (CII) and Keidanren, focusing on promoting trade from India and facilitating greater investment flows from Japanese companies.

Shri Agrawal apprised participants of India’s conducive policy environment for trade and investment, including ongoing measures to improve ease of doing business and simplified regulatory processes. He emphasized that the CEPA provides a stable framework ensuring tariff certainty and regulatory predictability, thereby fostering a facilitative environment for deeper collaboration between India and Japan as trusted partners in global value and supply chains.

(Commerce Secretary with Sr. Deputy Minister, MoFA, Japan)

(Commerce Secretary with CII delegation at Roadshow)

(Commerce Secretary with Dr. Yamada of Nikkie Asia in Fireside Chat during Roadshow)

Comprehensive Economic Partnership Agreement promotes diversified trade and investment, enhancing tariff certainty and regulatory predictability. The Comprehensive Economic Partnership Agreement was reviewed with focus on implementation, using the Agreement to secure tariff certainty and regulatory predictability, facilitate movement of natural persons, and promote diversification of bilateral trade. Officials highlighted export potential in textiles, pharmaceuticals, agriculture and services and underlined domestic measures to improve ease of doing business that complement CEPA's facilitative framework for deeper trade and investment cooperation.