Japan is confident that a Comprehensive Economic Partnership Agreement currently being negotiated with India would help the two countries dominate Asia's economic output in the future.
Thnew deal will likely usher in a new era of cooperation and broad-basing of economic relationship between the two Asian powers.
According to sources, last week's talks between the two countries had hit a roadblock as Japanese trade envoys were unwilling to grant market access to Indian pharmaceuticals and allow professionals, including nurses, to work in the island nation. The talks were held in Tokyo.
India will sign a Comprehensive Economic Partnership Agreement (Cepa) with Japan on Wednesday, setting the stage for free bilateral trade of goods and services.
India and Japan are likely to sign an ambitious bilateral market opening pact to enhance their $10.4-billion trade during Prime Minister Manmohan Singh's visit to that country in October.
External Affairs Minister S Jaishankar on Friday met Akie Abe, the wife of Japan's late Prime Minister Shinzo Abe and recalled the late premier's invaluable contribution to the advancement of India-Japan relations.
India and Japan are expected to move ahead on signing a comprehensive economic partnership agreement, besides finalising a partnership on the Delhi-Mumbai industrial corridor.
The government on Tuesday approved the draft of India's free trade agreement with Japan, which is likely to be signed during Prime Minister Manmohan Singh's visit to Tokyo later this month.
Under MRA, Japan is to recognise Indian medical degrees and treat the country's doctors and other medical personnel on par with its own.
Prime Ministers Modi and Abe enjoyed a close and empathetic relationship and this certainly gave a sustained momentum to the India-Japan strategic partnership. It is necessary for India to reach out and engage with his successor as early as possible, advises former foreign secretary Shyam Saran.
Prime Minister Shigeru Ishiba's sudden resignation after only a year in office has thrown Japan into political turmoil, raising doubts about how the country will handle economic and regional challenges, observes Dr Rajaram Panda.
Indian firms feared they would lose business if US ratified the Trans-Pacific Partnership agreement with 11 other countries.
His visit to India followed a few cancelled plans since he took office in July 2019 due to the coronavirus pandemic crisis, with the two leaders holding several virtual talks and eventually meeting in person on the sidelines of the COP26 climate summit in Glasgow last November.
Had India agreed to join the trade pact, Indian markets would have been flooded with cheap Chinese products.
Prime Minister Narendra Modi and US President Joe Biden will have a substantive engagement on the sidelines of the Quad summit on Saturday, and the two sides will sign at least two agreements following the talks.
The Asean secretariat hopes the meet may be able to iron out existing wrinkles raised by India. Since there had been no significant progress on the matter over the past two years on most issues, New Delhi is yet to decide on the invite.
Japanese Emperor Akihito and his wife Empress Michiko'six-day on Saturday to India is expected to be defining moment in India-Japan relations.
Sharma proposes to pass on the 'handover note' to his successor, which as per the poll projections is likely to be from Bharatiya Janata Party-led National Democratic Alliance.
'Ahmedabad-Mumbai bullet train will not begin to address any of the many problems Indian Railways faces.'
'It seems a wiser decision to pull out at the right moment than regret after joining the pact,' explains Dr Rahul Mishra.
Prime Minister Narendra Modi's visit to South Korea is considered essential in strengthening defence ties, enhancing economic cooperation and forging cultural ties between the two countries, says Dr Rahul Mishra
The strategic pacts were inked after the summit between Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe during which they also discussed international and regional issues of mutual importance including UN security reforms.
'While economic ties are making incremental progress, it is in the security and strategic domains that the India-Japan synergy is more compelling,' says Dr Rajaram Panda.
Modi will have limited choice other than stressing upon a request for more time to decide on tariff rates, especially with elections in 2019.
MEA Spokesperson Arindam Bagchi said the forthcoming Quad summit will provide an opportunity for the Quad leaders to exchange views about developments in the Indo-Pacific and contemporary global issues of mutual interest.
India Inc had cheered Donald Trump's decision to scrap TPP, but now there is a growing sense that it won't really lead to positive growth in trade with the US. Subhayan Chakraborty reports.
Newly-elected Conservative Party leader and prime minister in waiting Liz Truss is among the senior British politicians known for championing deeper India-UK strategic and economic ties, describing them as a "sweet spot" of global trade dynamics.
The deal would allow Japan to export nuclear technology to India.
