India and Japan reviewed progress under their Comprehensive Economic Partnership Agreement and explored ways to deepen economic cooperation during the 7th India Japan CEPA Joint Committee Meeting held in Tokyo on 2 March 2026.
The meeting was co chaired by Rajesh Agrawal, Secretary in the Department of Commerce of the Government of India, and the Senior Deputy Minister of the Ministry of Foreign Affairs of Japan. Discussions focused on the implementation of the bilateral trade agreement and identifying opportunities to expand economic engagement between the two countries.
Both sides examined the functioning of the Comprehensive Economic Partnership Agreement framework and exchanged views on measures required to unlock its full potential. The dialogue also explored avenues for strengthening trade flows, investment partnerships and supply chain collaboration.
During the discussions, Rajesh Agrawal emphasised the need to build a more diversified and balanced bilateral trade relationship. He highlighted that India and Japan possess strong economic complementarities that can drive future growth in bilateral commerce. Japan’s strengths in advanced technology, capital and high end manufacturing combined with India’s skilled workforce, expanding consumer market and rapidly growing economy create significant opportunities for deeper cooperation.
Rajesh Agrawal stressed that the Comprehensive Economic Partnership Agreement provides a stable and predictable framework that supports long term trade and investment. He also underlined the importance of effectively utilising the agreement’s provisions including the movement of natural persons as envisaged during the leaders summit between the two countries.
On the sidelines of the joint committee meeting, Rajesh Agrawal held discussions with the Vice Minister of the Ministry of Economy Trade and Industry of Japan. The interaction covered a broad range of issues including bilateral trade expansion, investment flows, improving the business environment and preparations for the upcoming 14th Ministerial Conference of the World Trade Organization.
During the meeting with the Vice Minister, Rajesh Agrawal referred to the shared vision outlined by the leaders of India and Japan during the Annual Summit held in August 2025. He reiterated the need to enhance trade diversification and strengthen bilateral investment cooperation to ensure sustainable economic growth.
Rajesh Agrawal highlighted that India has significant export potential in several sectors in the Japanese market. These sectors include textiles, pharmaceuticals, agriculture products and services. Expanding exports in these areas could help achieve a more balanced trade relationship while supporting long term economic stability for both countries.
In addition to official consultations, Rajesh Agrawal interacted with leading representatives of Japanese industry during a roundtable discussion aimed at strengthening business to business engagement. Industry participants discussed opportunities for collaboration in manufacturing, technology and global supply chains.
Later in the day, a Trade and Investment Roadshow was organised by the Embassy of India in Japan in collaboration with the Confederation of Indian Industry and Keidanren. The event was designed to promote Indian exports and encourage greater investment from Japanese companies in India.
Addressing business leaders during the roadshow, Rajesh Agrawal highlighted India’s evolving policy environment that supports trade and investment. He outlined reforms undertaken by the government to improve ease of doing business, streamline regulatory processes and facilitate industry participation in global value chains.
He emphasised that the Comprehensive Economic Partnership Agreement between India and Japan ensures tariff certainty and regulatory predictability, creating a conducive environment for businesses in both countries to expand cooperation.
The discussions in Tokyo reaffirmed the commitment of both governments to strengthen their economic partnership and to leverage the Comprehensive Economic Partnership Agreement as a key instrument for expanding trade, investment and industrial collaboration.
India and Japan continue to view each other as trusted partners in global value chains and strategic economic cooperation. The meeting highlighted the shared objective of building a resilient and mutually beneficial economic relationship that supports sustainable growth in both economies.
