03-09-2008, 09:46 PM
<b>India-Japan trade may touch USD 15 bn by 2010: CII</b>
New Delhi, Mar 9 - 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 dollars by 2010 from 7.5 billion dollars 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.
<b>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.
There is need for greater focus on agricultural exports to Japan since share of agricultural items in India's exports to Japan has declined by about 22 per cent over the last 10 years, although export of processed food increased by 4 per cent during this period.</b>
Further, export of Indian agricultural goods, chemicals and pharmaceuticals face various NTBs. Exporters also have difficulties in understanding guidelines and regulations, since they are mostly in the Japanese language.
It further said there is need to relax visa norms for Indian medical, para-medical workers and engineers similar to the liberalised entry its nurses have to Philippines and Indonesia as part of free trade deals. "There should be liberalisation of trade in services with regard to movement of professionals in the CEPA," it said.
The Japanese government should also provide Validated End User (VEU) certificate on the lines of the US policy for the Indian buyers. The 6th round of India-Japan CEPA negotiations is scheduled to take place in Tokyo later this month.
New Delhi, Mar 9 - 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 dollars by 2010 from 7.5 billion dollars 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.
<b>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.
There is need for greater focus on agricultural exports to Japan since share of agricultural items in India's exports to Japan has declined by about 22 per cent over the last 10 years, although export of processed food increased by 4 per cent during this period.</b>
Further, export of Indian agricultural goods, chemicals and pharmaceuticals face various NTBs. Exporters also have difficulties in understanding guidelines and regulations, since they are mostly in the Japanese language.
It further said there is need to relax visa norms for Indian medical, para-medical workers and engineers similar to the liberalised entry its nurses have to Philippines and Indonesia as part of free trade deals. "There should be liberalisation of trade in services with regard to movement of professionals in the CEPA," it said.
The Japanese government should also provide Validated End User (VEU) certificate on the lines of the US policy for the Indian buyers. The 6th round of India-Japan CEPA negotiations is scheduled to take place in Tokyo later this month.