New Delhi: The government is hopeful of crossing $1-trillion mark by the end of next year.

Kumar Sanjay Krishna, joint secretary, finance ministry, told an audience during a function to mark 40th anniversary of the Japan International Cooperation Agency's (JICA) India office, New Delhi, "This year the economy would touch $900 billion and by the end of next year it would cross $1-trillion mark.

On bilateral trade with Japan, he said, the Indo-Japan study group has already submitted its report to the commerce ministry last year. The group was formed to enhance Indo-Japan cooperation in trade, commerce, investment, development cooperation, economic partnership and regional economic integration.

Whether it would be free trade agreement or some other form of the bi-lateral arrangement that both the government has to decide, he said.