India and Japan strengthen economic ties at 7th CEPA Joint Committee Meeting

India and Japan held their 7th Joint Committee Meeting (JCM) under the Comprehensive Economic Partnership Agreement (CEPA) in Tokyo on 2 March 2026. The talks focused on strengthening trade ties, addressing imbalances, and exploring new opportunities for economic cooperation between the two nations.

The meeting was co-chaired by Shri Rajesh Agrawal, Secretary of India's Department of Commerce, and Japan's Senior Deputy Minister of Foreign Affairs. Both sides reviewed progress under CEPA and discussed ways to unlock its full potential, building on the vision set during the 2025 Leaders' Summit.

A major topic was the mobility of professionals, a priority highlighted in the 2025 summit. The Indian delegation stressed the need for a more balanced and diversified trade relationship to ensure long-term sustainability. They also promoted India as an alternative manufacturing hub for Japanese firms through a Trade and Investment Roadshow. Shri Agrawal noted that CEPA offers tariff certainty and regulatory stability, positioning India as a reliable partner in global supply chains. The discussions also explored economic synergies, such as Japan's advanced technology and capital matching India's large market and skilled workforce. Key sectors for Indian exports, including textiles, pharmaceuticals, agriculture, and services, were identified for further growth.

The meeting reinforced commitments to deepen trade ties and expand cooperation beyond traditional sectors. While no immediate updates on trade balance adjustments were shared, both nations reaffirmed their focus on leveraging CEPA to boost investment and economic collaboration.