India-Japan talks to focus on comprehensive economic partnership agreement: Kamal Nath

Addressing the 400-strong Japanese business delegation in New Delhi today, union minister of commerce and industry Kamal Nath said that both India and Japan were engaged to conclude the comprehensive economic partnership agreement (CEPA) at the earliest. "The dialogue is on the fast track and we expect to have the agreement in place by the designated time" Nath said.

Fujio Mitarai, leader of the Japanese delegation expressed optimism at the growing Indo-Japan economic relations and looked forward to a fruitful business engagement with Indian counterparts.

Pointing out on the strategic importance of the engagement of business leaders from both sides, Nath stated that the two governments will require the active participation of business leaders from both sides to make the comprehensive economic engagement between the two countries successful. "It is your support and dynamism that will propel the economic relations of India and Japan", he added.

The meeting was also attended by the representatives of Indian business chambers including CII, FICCI and Assocham, apart from officials from both the countries.

Japan is India's fifth largest investor with cumulative inflow of $2.58 billion since 1991. Indian exports to Japan in 2006-07 were $2812.83 million while imports from Japan were to the tune of $4560.84 million. Major items of exports to Japan include gems & jewellery, iron ore, marine products while major import items are machinery, electronic goods, iron & steel and transport equipment.